Why Sensex fell today after RBI policy announcement
- Economists say that RBI may not be fully done with the rate hiking cycle
After staying range-bound for most of the early session, Indian stock markets fell after the Reserve Bank of India announced its monetary policy. Sensex ended 215 points lower at 62,410 while Nifty settled at 18560. The RBI today raised key repo rate by 35 basis points (bps) as widely expected, the fifth straight increase. The RBI also said that its battle against inflation was not over yet though it kept the inflation forecast steady at 6.7% for financial year 2022/23.
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