Indian Market: Sensex down 215.68 pts

The Nifty of National Stock Exchange (NSE) too slipped 82.25 points at 18,560.50.

The RBI increased repo rate by 35 basis points and lowered gross domestic product (GDP) growth forecast for FY23 to 6.8 per cent.

The Apex Bank hiked Repo rates for the fifth time since May this year to contain the inflation.

The Sensex opened weak at 62,615.52, easing 11 points. During the session it was dropped 310 points at 62,316.65, days low, before closing at 62,410.68, sliding 215.68 points from its previous close.

In stocks, Utilities was a major loser, fell by 1.28 per cent followed by Realty by 1.11 per cent, Consumer Durable by 1.06 per cent and Commodities by 0.70 per cent.

In scrips, NTPC was a major loser, down by 2.05 per cent to Rs 171.70, Bajaj Finserv by 1.74 per cent to Rs 1606.75, IndusInd Bank by 1.68 per cent to Rs 1164.20, Reliance Industries by 1.53 per cent to Rs 2647 and Tata Steel by 1.51 per cent to Rs 111.20.

The gainers were Asian Paints by 2.04 per cent to Rs 3225, Hind Unilever by 1.99 per cent to Rs 2707, L& T by 1.58 per cent to Rs 2127 and Axis Bank by 0.93 per cent to Rs 913.

The Mid Cap fell by 0.41 per cent and Small Cap by 0.44 per cent.

In 30 scrips, 7 advanced while 23 declined.

The Asian Market remained weak, as Australia declined by 0.86 per cent followed by China by 0.40 per cent, Hong Kong by 3.03 per cent and Japan by 0.72 per cent.

(With UNI inputs)