INDIA STOCKS — Indian shares hold losses after RBI hike; rate — sensitives lead decline

(Updates after RBI's policy decision) By Bharath Rajeswaran Oct 7 (Reuters) — Indian shares held losses on Wednesday in a broad-based decline, led by rate-sensitive sectors, afterthe central bank's 25-basis-point hike following persistent inflationary pressures from the Middle East war that forced rate-setters' hands globally. The Reserve Bank of India also changed its stance from "neutral" to "calibrated tightening", citing growth and inflation risks due to higher oil prices and global monetary policy tightening. The Nifty 50 fell 0.77% to 22,599.1 and the BSE Sensex shed 0.65% to 72,594.57, as of 10:09 a.m. IST. They were down about 0.75% and 0.7%, ahead of the RBI's policy decision. The RBI raised its benchmark repo rate to 5.5%, its first increase since February 2023, joining major global central banks in hiking interest rates. All 16 major sectors logged losses. The broader small-caps and mid-caps dropped 0.1% and 0.4%, respectively. Domestic rate-sensitive sectors such as financials and banks declined 0.4% each, while auto, fast-moving consumer goods and realty lost 1.1%, 0.7% and 0.5%, respectively. The top three heaviest stocks in benchmarks, HDFC Bank, ICICI Bank and.