India Auto Stocks Decline After RBI Rate Hike
Shares of Indian automobile companies fell on Wednesday after the Reserve Bank of India (RBI) increased its policy rate by 25 basis points. Investors are concerned about the potential impact of higher borrowing costs on vehicle demand. The Nifty Auto index was the worst-performing sector.
Shares of automobile companies came under pressure on Wednesday after the Reserve Bank of India (RBI) raised its policy rate by 25 basis points, with investors weighing the possible impact of higher borrowing costs on vehicle demand. The Nifty Auto index was the weakest sectoral index in the broader market as auto stocks declined following the RBI move.