Repo rate hike by 50 basis points... Impact on stock market?

We have already seen that the Reserve bank of India's Monetary Policy Committee has hiked the repo rate by 50 basis points. Similarly, it has been announced that the SDF rate will be revised to 5.15 percent and the MSF rate and bank rate will be revised to 5.65 percent. Has the repo rate change affected the indian stock market? Let's see what the impact was.
Before the announcement of the repo interest rate change, the Sensex of the indian stock market had risen up to 250 points, but there was no major change after the announcement of the interest rate change. Currently, the stock market is almost at the same level. The Nifty of the national stock market also remained unchanged. Will there be a change in the evening? Let's wait and see.The indian rupee is currently trading at 79.0575 against the US dollar following the announcement of the repo rate hike. ICICI shares have risen by around two percent in today's stock market due to the announcement of the repo rate hike. Similarly, sbi shares rose up to 1.48 percent.After the repo interest rate change announcement, bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india Governor Shaktikanta Das said that the continuous vibrations of the global economy are also affecting the indian economy. However, he also expressed hope that india will be among the fastest-growing economies in the world.Shaktikanta Das said that the hike in term deposit rates should increase liquidity for the financial sector, adding that edible oil prices will also come down. He also said there are signs of expansion in domestic economic activity.The Reserve bank has raised the repo rate, the rate at which the central bank lends to banks, for the third time this fiscal year. RBI hiked the repo rate by 40 basis points in May and 50 basis points in june and has now increased it by another 50 basis points.
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Sowmiya Sriram

05/08/2022 12:44 PM