Mumbai: The domestic equity benchmarks BSE Sensex on Wednesday which began on a cautious note fell over 280 points following the outcome of Reserve Bank of India’s policy. While the BSE Sensex fell by 0.77 per cent and closed at 36,690.50, the NSE Nifty closed by 0.85 per cent lower. The broader NSE Nifty lost 92.75 points and closed at 10,855.50.

The dip in equity indices took place after the RBI reduced its key lending rate as well its growth estimate for the current financial year in the midst of an economic slowdown in terms of demand and investments.

During the morning trade, the 30-share index was trading 18.58 points higher at 36,995.43. Nifty, on the other hand, lost 8.55 points or 0.07 per cent and stood at 10,943.05 on Wednesday morning.

The top gainers of the day in the early trade of Sensex were Yes Bank, Hero MotoCorp, IndusInd Bank, HUL, PowerGrid, TechM, Infosys and Sun Pharma. They increased up to 4 per cent. The top laggards were Tata Steel, M&M, Axis Bank, Kotak Bank and HDFC who lost up to 3 per cent.

Meanwhile, the Indian rupee depreciated by 9 paise as opposed to its previous close at 70.90 during the early trade.