Business

Stock market crash due to hikes repo rate by RBI, Sensex dropped 1307 points

Punjab Tribune Bureau | May 04, 2022 05:32 PM

MUMBAI: The decision of RBI to suddenly increase the repo rate by 40 basis points on Wednesday had a strong impact on the stock market.

Due to this decision, the BSE Sensex fell 1307 points, while the NSE index lost 391 points.

According to the report, the Sensex fell by 2.29 percent to 55,669 while the Nifty fell 391.50 points to closed at 16,677.

Shares of Power Grid, NTPC and Kotak Bank rose marginally in the Sensex.

BSE Midcap and Smallcap lost more than 600 points. All the 11 indices of Nifty registered a decline.

The biggest fall of 4.29 percent was recorded in the media index. After this, the metal and realty indices recorded a fall.

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