The Sensex ended 0.49 per cent or 192 points lower at 38,685 and the NSE Nifty 50 Index dropped 0.40 per cent or 46 points to settle at 10,598.

The S&P BSE Sensex and NSE Nifty 50 Index fell for second day in a row after the Reserve Bank of India cut repo rate by 25 basis points to 6 per cent dashing hopes of some market participants who were expecting a more dovish tone from the Reserve Bank of India's monetary policy committee. Some market participants were expecting a 50 basis point rate cut. The equity markets turned highly volatile after the monetary policy decision announcement and the S&P BSE Sensex fell as much as 0.76 per cent or 296 points and the NSE Nifty 50 Index dropped below 11,600.

The Sensex ended 0.49 per cent or 192 points lower at 38,685 and the NSE Nifty 50 Index dropped 0.40 per cent or 46 points to settle at 10,598.

The S&P BSE Sensex and NSE Nifty 50 Index fell for second day in a row after the Reserve Bank of India cut repo rate by 25 basis points to 6 per cent dashing hopes of some market participants who were expecting a more dovish tone from the Reserve Bank of India's monetary policy committee. Some market participants were expecting a 50 basis point rate cut. The equity markets turned highly volatile after the monetary policy decision announcement and the S&P BSE Sensex fell as much as 0.76 per cent or 296 points and the NSE Nifty 50 Index dropped below 11,600.