Indian equity benchmarks showed some recovery post the RBI policy event as hike in key policy rates by 25 basis points was on the expected lines. The market has already been discounted these hikes.
Central bank Reserve Bank of India has hiked repo (rate at which RBI lends money to banks) and reverse repo (rate at which RBI borrows money from banks) rates by 25 basis points each - on expected lines - to 7.5% and 6.5%, respectively. Cash Reserve Ratio was unchanged.
BSE Sensex was trading at 18,096, down 35 points and NSE Nifty fell 16 points to 5,431.
Central bank Reserve Bank of India has hiked repo (rate at which RBI lends money to banks) and reverse repo (rate at which RBI borrows money from banks) rates by 25 basis points each - on expected lines - to 7.5% and 6.5%, respectively. Cash Reserve Ratio was unchanged.
BSE Sensex was trading at 18,096, down 35 points and NSE Nifty fell 16 points to 5,431.
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