The 30-share benchmark Sensex slipped in the red, after seven record setting session to end 85 points lower on Wednesday, after the RBI hiked the policy rate on inflation concerns. It had rallied to a fresh lifetime high of 37,711.87 in early morning trade but plunged after the RBI announcement finally ending 84.96 points lower at 37,521.62 points. The broader NSE Nifty too slipped from its record high, shedding 10.30 points to end at 11,346.20.
ALSO READ: Top things to know about RBI meet and interest rates hike
The Reserve Bank’s Monetary Policy Committee raised the benchmark lending rate by 0.25 per cent for the second time in two months. The repo rate, at which the central bank lends to other banks, now stands at 6.5 per cent.
It is the first time since October 2013 that the RBI has hiked interest rate at consecutive policy meetings.
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