New Delhi, June 5 -- Indian equity markets ended lower on Thursday despite the government's ordinance providing tax relief to foreign institutional investors (FIIs), as caution prevailed following the Reserve Bank of India's monetary policy outlook and a downward revision in growth projections.

The BSE SENSEX closed at 74,243.34 points, down 116.67 points or 0.16 per cent. The NSE NIFTY 50 settled at 23,366.70 points, losing 49.85 points or 0.21 per cent.

Market participants initially drew comfort from measures aimed at improving foreign capital inflows, including the ordinance addressing tax-related concerns for foreign investors. However, sentiment remained subdued after the RBI maintained the repo rate and lowered its GDP growth fore...