Buy or sell stocks, Aug. 7 -- After the Reserve Bank of India's monetary policy committee meeting, the outcome was announced, and the Indian stock market witnessed strong selling on Wednesday. The BSE Sensex slipped by 166.26 points, closing at 80,543.99, while the Nifty 50 index fell 75.35 points to settle at 24,574.20. Investor sentiment was further weighed down by former US President Donald Trump's renewed warning of increased tariffs on Indian exports.

Amid the broader market decline, both mid- and smallcap stocks came under pressure, with the NSE Midcap index dropping 0.8 per cent and the Smallcap index declining by more than 1 per cent.

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indi...