The Indian stock market, including the Sensex and Nifty 50, closed with significant losses on February 7, despite a 25 bps rate cut by the Reserve Bank of India, marking the third consecutive session of losses.

At the close, the 30-share BSE Sensex ended lower by 0.25 per cent or 197.97 points at 77,860.19, while the NSE Nifty50 ended with a cut of 0.18 per cent or 43.4 points at 23,559.95 points.

The banking sector struggled as the RBI’s monetary policy lacked additional liquidity-easing measures. ICICI Bank and SBI led the decline, dragging the Nifty Bank index down 0.6 percent.