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RBI hikes Repo rate by 25 bps. Markets dip.

The RBI has raised the repo rate by 25 bps. After the hike, the repo rate now stands at 8.25%. The decision by the RBI has supposedly been influenced by the higher inflation numbers prevailing. It has also indicated that it would continue to keep its ‘anti-inflationary’ stance.

Markets have dipped in the wake of this news being arrived. Banking stocks have seen the dips from day highs. The Nifty has shed its gains and is almost flat.

ICICI Bank has dipped to 871, whereas the stock saw a day high of 894. SBI is trading 0.2% down in the red. HDFC Bank is down by 0.6% at 481.80.


 

 

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