RBI raises repo to 5.5% as Indian markets fall
Business
Markets slid on Wednesday, October 7, 2026, after the Reserve Bank of India (RBI) raised its repo rate to 5.5%, sparking worries about higher borrowing costs sticking around.
The Sensex fell more than 400 points, closing at 72,638.70, while Nifty dropped to 22,603.05.
But banking stocks helped soften the blow: Nifty Bank and PSU Bank indices actually managed small gains.
Kotak Mahindra Bank gains, Titan falls
Not all sectors fared equally: metal and realty stocks took a hit, while Kotak Mahindra Bank stood out with a solid rise of more than 2%.
Meanwhile, Titan was among the biggest losers.
High crude oil prices and global uncertainty also weighed on sentiment, with foreign investors continuing to pull money out of Indian markets.