The markets had largely factored in the cut. While the BSE index Sensex slipped from record high to end 98.43 points lower at 32,476.74, NSE’s Nifty fell 33.15 points to 10,081.50.
Before the RBI reviewed its monetary policy, the Sensex slipped to 32,553.35 at around noon, down 21.82 points, or 0.07 per cent before hit an all-time high at 32,686.48 earlier in the day.
The broader Nifty was also down 13.25 points, or 0.13 per cent, at 10,101.40 around noon.
Lower interest rates in the wake of cooling inflation made RBI to lower repo rate.
Earlier in the day, volatility gripped indices like metal, capital goods and FMCG, which saw investors taking off profit. Consumer durables, realty and energy counters witnessed buying interest.
The big losers included Bajaj Auto, along with Asian Paints, Dr Reddy’s and ONGC.
(With inputs from PTI)