Mumbai, Feb. 7 -- The domestic equity benchmarks traded with moderate cuts in afternoon trade, following the Monetary Policy Committee's unanimous decision to reduce the repo rate by 25 basis points to 6.25%. This marked the first rate change in two years, driven by easing inflation and slowing economic growth. The committee highlighted its neutral stance, focusing on aligning inflation with targets while supporting economic growth. The Nifty hovered below the 23,600 level.

Metal, consumer durables and auto shares advanced while FMCG and banking stocks declined

At 13:26 IST, the barometer index, the S&P BSE Sensex, shed 237.99 points or 0.30% to 77,812.33. The Nifty 50 index lost 49.95 points or 0.21% to 23,553.40.

In the broader marke...