Finance
Stock Market News Highlights:
In late afternoon trade, Indian benchmark indices extended losses after RBI Governor Shaktikanta Das announced in an unscheduled address that the MPC had raised repo rates by 40 basis points to 4.40 percent. In a knee-jerk reaction to the central bank’s rate hike, the BSE Sensex fell over 1,300 points to end at 55,669, while the NSE Nifty50 fell below 16,700 to end 300 points or 2.3 percent lower at 16,677.
Auto, bank, FMCG, power, metal, realty, healthcare, and capital goods indices all ended in the red, with losses ranging from 1-3 percent.
The BSE midcap index fell 2.63 percent, while the smallcap index fell 2.11 percent. ONGC, Britannia Industries, Power Grid Corporation, NTPC, and Kotak Mahindra Bank were among the top Nifty losers, while ONGC, Britannia Industries, Power Grid Corporation, NTPC, and Kotak Mahindra Bank were among the top gainers.
Source:FE
