Author: Nishtha Mehrotra | EQMint
Indian stock markets ended sharply lower on October 7, snapping a two-session winning run as investors reacted to the Reserve Bank of India’s 25-basis-point repo rate hike. The Sensex fell 429 points, or 0.59%, to close at 72,638.70, while the Nifty 50 declined 173 points, or 0.76%, to 22,603.05.
The RBI raised the repo rate to 5.50%, marking its first rate increase in more than three years. The central bank also shifted its policy stance, adding to caution among investors.
Selling pressure was visible across several sectors, with metals, auto, PSU banks, FMCG, IT and oil & gas stocks among those under pressure. Realty and metal stocks were also weak during the session.
Among individual stocks, Titan Company was one of the biggest Nifty losers, falling nearly 4%, while Kotak Mahindra Bank led the gainers with a rise of around 1.9%.
The Indian rupee traded around ₹96.4–₹96.7 against the US dollar, while gold and silver prices also moved lower.
Disclaimer: This article is for information purposes only and is not investment advice.
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