RBI raises repo rate to 5.5% as Indian markets fall
Business
Indian stock markets had a rough Thursday after the Reserve Bank of India, or RBI, bumped up the repo rate to 5.5%.
This move has made people nervous about higher loan costs, especially with global worries like rising bond yields and ongoing geopolitical tensions.
The Sensex fell more than 700 points and Nifty slipped below 22,355.
Tech stocks gain amid broader selloff
While most sectors took a hit, tech companies like TCS, Tech Mahindra, HCL Tech, and Infosys actually gained ground.
Meanwhile, real estate and financial services stocks dropped over 1%, with big names like Bajaj Finance and ITC also seeing losses.
Crude oil prices and foreign investors pulling out have added to the uncertainty for everyone watching the markets.