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.

ICICI Securities, Citigroup Global Markets India, JM Financial, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers for the IPO.

Highlight: FMCG and PSU Bank shares bore the brunt of the selling on Friday after RBI, as expected, announced a 25 bps rate cut. Mid- and Small-cap indices finished on a mixed note.

The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,715 level, a premium of nearly 25 points from the Nifty futures’ previous close.

Despite a 25-basis-point repo rate cut by the Reserve Bank of India, the market closed largely in the red. However, midcap stocks continued to outperform, with the midcap index closing in positive territory.

The Reserve Bank of India's recent 25 basis points repo rate cut failed to uplift market sentiment, as the Sensex and Nifty 50 extended their losses amidst global uncertainties and domestic concerns

The stock market went into the red upon opening as trading began on Friday, February 7, the day the new Reserve Bank of India (RBI) governor Sanjay Malhotra is set to announce the interest rate decision of the Monetary Policy Committee (MPC).

The Indian stock market ended largely lower on Thursday (February 6), failing to sustain opening gains as broader indices saw selling pressure. The Sensex declined 184 points to close at 78,088, while the Nifty lost 93 points to settle at 23,