The benchmark domestic equity indices declined over half 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 broader market indices at the BSE also ended in negative territory.

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.

In the Forex market, the rupee today depreciated by 43 paise to close at 86 rupees and 69 paise against the US dollar.

In the Indian Bullion Market, 24 Karat Gold was trading at 89,750 rupees per 10 grams, while Silver 999 Fine was trading at 90,420 rupees per kilogram a short while ago.

Brent Crude was trading at 59 dollars and a cent per barrel. WTI Crude was trading at 55 dollars and 76 cents per barrel when reports last came in.