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Markets fluctuate after RBI hikes interest rate
The Nifty 50 index was up 0.72% at 17,849.85, as of 10:06 a.m. IST, while the S&P BSE Sensex rose 0.68% to 60,695.09.
Indian shares were trading higher on Wednesday after the Reserve Bank of India delivered a widely expected smaller interest rate hike.
The Nifty 50 index was up 0.72% at 17,849.85, as of 10:06 a.m. IST, while the S&P BSE Sensex rose 0.68% to 60,695.09.
Watch live: Monetary Policy statement of RBI Governor Shaktikanta Das
The central bank raised the key policy repo rate by 25 basis points, in line with economists' expectations, and said it remained focused on the withdrawal of accomodation.
Domestic retail inflation finally came within the central bank's tolerance band of 2%-6% in the last two months of 2022.
A Reuters poll showed the RBI is likely to raise rates by 25 bps to mark the final increase in its current tightening cycle, and then pause for the rest of the year.
