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

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the red. Nifty 50 closed at 23,603.35, while Sensex ended at 78,058.16. Overnight, Wall Street indices were in the green.

The Nifty 50 has dropped 4.4 per cent since the last policy meeting in December, impacted by weak corporate earnings and a slowing economy.

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.

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,

All eyes are now on RBI Governor Sanjay Malhotra’s first monetary policy review, which could shape the market's next significant move

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,810 level, a premium of nearly 35 points from the Nifty futures’ previous close.

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).