Sensex, Nifty trade in red after RBIs 0.25% cut in rates; banking stocks top loser

Indian markets were trading on a negative note on Thursdays after the Reserve Bank of India (RBI) in its third bi-monthly monetary policy review of 2017-18 had lowered the key rates.

At 0941 hours, Sensex was trading at 32,379.64 down over 97 points or 0.30%, while Nifty 50 was below 26 points or 0.26% trading at 10,055.75. 

RBI on Wednesday in its bi-monthly monetary policy decided to keep policy stance neutral but cut repo rate to 6% from 6.25% and slashed reverse repo rate to 5.75% from 6%. 

RBI cuts repo rate by 25 basis points; lowest since 2010