Indian stocks open lower ahead of expected RBI rate hike
The Nifty 50 fell 0.74% to 22,614.25, and the BSE Sensex shed 0.60% to 72,627.95, as of 9:17 a.m. IST, with all 16 major sectors logging losses.
(Updates for markets open) Oct 7 (Reuters) — Indian shares opened lower on Wednesday, ahead of an expected central bank rate hike as persistent inflationary pressures from the war in the Middle East force rate-setters' hands globally. m. IST. All 16 major sectors logged losses.
6%, respectively. The Reserve Bank of India is widely expected to raise rates by 25 basis points, its first increase since February 2023, with Governor Sanjay Malhotra's comments on inflation risks to be closely watched for signals on the future rate path. 5%, dragged by higher oil prices, rising US bond yields on inflationary worries and foreign outflows from local equities. 4% with multiple analysts tracking weaker-than-expected growth in India's jewellery segment after its quarterly business update, after markets closed on Tuesday.
7 as storm risks to US oil output and Houthi attacks on Saudi Arabia outweighed increased Middle East supply. com; +91 9769003463;)