Despite the formation of a black candle on the daily chart, the index managed to close just above the previous day’s level, suggesting a potential consolidation phase.

The TCS results signalled a possible decline in IT companies' revenue and profits.

The Nifty closed the session with a gain of 0.07%, finishing below the 25,000 mark at 24,998; the Sensex wrapped up the day with a 0.18% gain, settling at 81,611.

The negative bias may persist if the index sustains below the intraday support level of 24,950.

Positive cues from the US and Asian markets boost Indian stock market sentiment

The Nifty fell below 25,000; largecap stocks faced profit booking at higher levels, but mid-and small-cap stocks continued to gain ground.

RBI's announcement initially boosted stock markets but the gains were pared back later in the day

However, from a technical perspective, momentum indicators remain negative as the index continues to trade below its short-term moving averages

Monetary policy to be announced today to be in focus; global cues positive as Chinese appeal fades

The Nifty 50 ended 219 points, or 0.87 percent, down at 24,795.75. The volatility index India VIX jumped over 6 percent.