The 30-stock Sensex of the Bombay Stock Exchange (BSE) on Thursday dropped by 146 basis points or 0.8% after the RBI announced the much-expected key policy rate hike.
The Sensex breached the psychological mark of 18,000 points and closed at 17,985.88 points. The Sensex, however, did not push the stocks further down as the market had already accounted for the RBI’s decision to increase the lending rate by 25 basis points.
Technology stocks were worst hit and were down by 2.5% followed by IT stocks, which were down by 1.7%. The broader NSE 50-share Nifty too fell by 50.75 points or 0.93% to finish at 5,396.75.