Lagatar24 Desk
Indian stock markets traded lower on Wednesday after the Reserve Bank of India’s Monetary Policy Committee raised the repo rate to 5.50 percent, with the Sensex falling 282.60 points to trade around 72,785.21 and the Nifty slipping 127.05 points to 22,649.05.
Markets Recover Slightly After Rate Decision
Before the RBI’s announcement, the indices had fallen more sharply in early trade, with the BSE Sensex down 460 points at 72,599.05 and the NSE Nifty off 164.80 points at 22,610.85. This indicates a modest recovery after the repo rate decision was announced.
Only 8 Sensex Stocks in the Green
Of the 30 Sensex shares, 8 were trading in the green while 22 were in the red. Kotak Mahindra Bank led the gainers with a rise of 1.77 percent, followed by Bajaj Finance (0.83%), Axis Bank (0.58%), SBI (0.56%) and ICICI Bank (0.44%). Among the top losers, Titan fell 3.65 percent, followed by Bharat Electronics (1.85%), Asian Paints (1.52%), Mahindra & Mahindra (1.35%) and UltraTech Cement (0.87%).
