Stories
Sensex, Nifty drop as RBI hikes repo rate and rupee hits five-month low
N
News18•07-10-2026, 16:15
Sensex, Nifty drop as RBI hikes repo rate and rupee hits five-month low
- •Indian equity markets closed lower as investors turned cautious following the Reserve Bank of India shifting towards calibrated tightening.
- •The BSE Sensex dropped 429.11 points to 72,638.70, while the NIFTY 50 fell 173.05 points to 22,603.05.
- •The RBI hiked the repo rate by 25 basis points to 5.50 per cent amid growing concerns over inflation and crude prices.
- •The Indian rupee depreciated by 35 paise to a five-month low of Rs 96.77 against the US dollar.
- •Broad-based selling was witnessed across multiple sectors, with Nifty Metal and Nifty Realty leading the losses.
Key Questions Answered
Indian equity markets closed lower as investors turned cautious due to the Reserve Bank of India's shift towards calibrated tightening and inflation concerns. The NIFTY 50 index declined 173.05 points to close at 22,603.05, while the BSE Sensex fell 429.11 points to end at 72,638.70.
The Reserve Bank of India hiked the repo rate by 25 basis points to 5.50 per cent, alongside shifting towards calibrated tightening amid rising inflation and external pressures.
The Indian rupee remained under heavy pressure, depreciating by 35 paise to trade at Rs 96.77 per USD at the time of reporting, which marked a five-month low.
