New Delhi, Feb. 10 -- Nifty 50 on 7 February: A recap

The Nifty 50 closed 43 points lower at 23,559.95 on Friday amid market volatility following the Reserve Bank of India's (RBI) decision to cut the repo rate by 25 basis points-the first reduction in nearly five years.

Despite the widely expected rate cut to 6.25% and the central bank's 'neutral' stance, investor sentiment remained subdued. The RBI also set its FY26 GDP growth target at 6.7% and projected FY25 inflation at 4.8%.

Nifty 50 had opened flat at 23,249.50 on Friday and fluctuated between gains and losses, trading within a range of 23,440-23,700. It formed a third consecutive bearish candle on the daily chart, indicating a lower high, lower low price structure.

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