The benchmark domestic equity indices declined over half a percent today, tracking losses in global markets amid escalating trade tensions despite the Reserve Bank of India’s decision to reduce the policy repo rate by 25 basis points and shift its stance to accommodative, signalling more rate cuts ahead to support growth. The 30-share index at the Bombay Stock Exchange, Sensex, dropped 380 points to close at 73,847. The National Stock Exchange Nifty-50 slipped 137 points to settle at 22,399.

The broader market indices at the BSE also ended in negative territory. The Mid-Cap index lost over 0.7 percent, and the Small-Cap index fell over one percent.

In the Sensex index, 18 out of 30 companies ended in negative territory. In the top laggards, SBI Bank decreased over 3.4 percent, Tech Mahindra lost over 3.3 percent, and Larsen and Toubro fell more than 3.2 percent. Among the top gainers, Nestle India rose over 3.2 percent, Hindustan Unilever advanced over 2.6 percent, and Titan added more than 1.6 percent.

In sectoral indices at the BSE, 18 out of 21 sectors registered losses. Among the top laggards, Focused IT dropped almost 2.2 percent, IT as well as Realty slid two percent each, and Capital Goods slipped over 1.6 percent. Conversely, in the top gainers, FMCG added over one and half percent, consumer durables gained 0.32 percent, and auto ended nearly flat.

The overall market breadth at the BSE was negative as shares of 2,359 companies declined, 1,529 advanced, and 142 remained unchanged. At the National Stock Exchange, 19 companies hit their 52-week high, while 45 hit their 52-week low.