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Tuesday, June 28, 2022
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    HomeBusinessMARKET LIVE: Sensex drops 400 pts as RBI hikes repo rate by...

    MARKET LIVE: Sensex drops 400 pts as RBI hikes repo rate by 50 bps to 4.9%

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    Stock market live updates: The markets extended early losses as the Reserve Bank of India (RBI) hiked the key repo rate by 50 bps, the second raise in a row this year, to rein in inflation. With this, the repo rate now stands at 4.9 per cent, up from 4.4 per cent. 

    The BSE Sensex fell 300 points to 55,800 and the NSE Nifty50 slipped 100 pts to 16,300.

    The broader markets were also muted. The BSE MidCap and SmallCap indices rose up to 0.1 per cent. 

    Sectorally, Banks, Financials, Metals, PSBs and Realty indices held nominal gains on the Nifty. While, Auto, IT, Pharma, FMCG  and Consumer Durables were the top losers, down up to a per cent.  

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