Benchmark indices settled the indices lower with Nifty ending only a little above 10,000-mark and Sensex down over 200 points after activity in service sector contracted at the sharpest rate in nearly four years in July after GST sowed confusion and sent new orders into free fall. All sectoral indices ended in red, contributing to the losses.

Investors were also disappointed with just 25 bps rate cut by Reserve Bank of India (RBI). 25 bps was already priced in, experts believed.

On the other hand, World stock markets fell, led by a tumble in tech shares as investors locked in recent gains after Wall Street’s Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history