Orbits News
Sensex loses over 250 pts as stocks tumble on sharp rate hike
The market saw some heavy selling in mid morning trades following the Reserve Bank of India announcing a sharper than expected hike in policy rates. The market, which was expecting a hike of 25 basis points in the repo rate, went sliding down sharply after the central bank announced a 50 basis points hike to 8%. The apex bank raised the reverse repo rate by 50 basis points to 7% even as it left the
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