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Domestic equities fell on Wednesday, after the central bank hiked key interest rate, as expected.
At 11.30 am, the 30-share index was trading 193.43 points or 0.30 per cent lower at 62,432. 93. Similarly, the Nifty slipped 67.65 points or 0.40 per cent to 18575.10, mirroring sluggish investor sentiment in global markets.
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RBI hikes benchmark lending rate by 35 basis points
Further calibrated action by the MPC may be needed as the battle against inflation is not over: RBI Governor Shaktikanta DasIn the opening session, the Nifty 50 index was up 0.02% at 18,646.65, and the S&P BSE Sensex rose 0.08% to 62,678.57. However, equities met with selling pressure after the rate hike was announced.
The Reserve Bank of India raised the key policy repo rate by 35 basis points, inline with economists' expectations, and said overall monetary and liquidity conditions remain accommodative.
Retail inflation had eased to a three-month low of 6.77% in October, strengthening bets on smaller rate increases by the RBI going ahead.
Equity benchmarks Sensex and Nifty opened on a choppy note on Wednesday, tracking weakness in index heavyweights Wipro, TCS and Maruti ahead of the RBI monetary policy announcement.
Top losers
NTPC was the top loser in the Sensex pack, shedding over 1 per cent, followed by Kotak Bank, Wipro, TCS, HCL Tech, Maruti and Tech Mahindra.
On the other hand, L&T, Asian Paints, ICICI Bank, Bharti Airtel, HUL and SBI were among the gainers.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo were trading with losses in mid-session deals, while Hong Kong was in the green.
Stock exchanges in the US ended on a negative note in the overnight session.
Meanwhile, international oil benchmark Brent crude gained 0.24 per cent to $79.54 per barrel.
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