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Rate hike drags Nifty below 22,600; Sensex drops 429 points
M
Moneycontrol•07-10-2026, 16:29
Rate hike drags Nifty below 22,600; Sensex drops 429 points
- •Indian benchmark indices ended lower, snapping a two-day winning streak after the RBI raised the repo rate by 25 bps to 5.50%.
- •The Sensex dropped 429.11 points to close at 72,638.70, while the Nifty fell 173.05 points to finish at 22,603.05.
- •The RBI upgraded its FY27 GDP growth forecast to 7.1% while lifting the inflation projection to 5.2%.
- •Almost all sectoral indices ended in the red, with FMCG, IT, auto, metal, and realty declining between 1 to 2 percent.
- •The Indian rupee weakened by 35 paise to end near the day's low of 96.77 against the US dollar.
Key Questions Answered
Indian benchmark indices fell after the RBI raised the repo rate by 25 basis points to 5.50% and shifted its stance to calibrated tightening, snapping a two-day winning streak.
The RBI raised its FY27 GDP growth forecast to 7.1% from 6.7% and lifted its inflation projection to 5.2% from 5%.
At the close of the volatile session, the Sensex dropped 429.11 points to end at 72,638.70, while the Nifty declined 173.05 points to settle at 22,603.05.
