Indian Shares Decline Following RBI Rate Hike
Indian shares extended their losses on Wednesday, led by rate-sensitive sectors, after the Reserve Bank of India implemented a 25-basis-point interest rate increase in response to persistent inflationary pressures.
Indian shares remained under pressure on Wednesday in a broad-based decline, with rate-sensitive sectors leading the fall after the central bank’s 25-basis-point hike. The move came after persistent inflationary pressures from the Middle East war, which had forced rate-setters’ hands globally.