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Markets volatile, Nifty hovers near 16800, Sensex flat; RBI MPC hikes repo rate by 50 bps
Domestic benchmark traded volatile as the Reserve Bank of India Monetary Policy Committee hiked repo rate by 50 basis points to 5.9 per cent, in-line with expectations. NSE Nifty 50 declined over 40 points to trade below 17,800 levels and the S&P BSE Sensex shed over 200 points to trade at 56,200. The broader markets were also in red as Nifty MidCap 100 and Nifty SmallCap 100 dropped over 0.1 per cent each. Sectorally, Nifty Metal and Nifty Pharma indices held up with marginal gains, whereas Nifty Realty, Nifty Bank, and Nifty Auto indices were bogged down in opening trade.