MARKETS: Sensex gains 300pts, Nifty above 17,450 post RBI's 50bps rate hike

[ad_1]

Illustration: Ajay Mohanty

The Indian equity markets steered in a positive direction after the Reserve Bank of India (RBI) hiked repo rates by 50 basis points (bps) to 5.4 per cent. With this rate-hike cycle, the Indian central bank has raised interest rates by 140 bps so far. READ MORE

Frontline indices like Nifty50 rose 40 points to trade above 17,400 levels, whereas the S&P BSE Sensex climbed over 200 points to trade at 58,517 levels.

Rate-sensitive sectors like Nifty Bank and Nifty Realty gain up to 0.4 per cent. Nifty Auto, however, was down 0.1 per cent in trade.