Nifty falls 173 points as RBI hikes repo rate
In short
The Nifty fell 173 points on Wednesday after the RBI raised the repo rate and moved to a “Calibrated Tightening” stance.
Traders are now watching the 22,500 to 22,800 range. The report does not say how far the market may move next.
What the reporting says
The Nifty slipped 173 points on Wednesday after the RBI raised the repo rate and shifted its stance to ‘Calibrated Tightening’. CNBC TV18 Market said traders are watching support and resistance levels around 22,500 to 22,800. The reporting does not say how long the pressure will last or whether the move will change the near-term trend.
Why it matters
The Nifty dropped 173 points after the RBI raised the repo rate and adopted a ‘Calibrated Tightening’ stance. That rate action appears to have weighed on market sentiment, with traders now focused on support and resistance near 22,500 and 22,800. The reporting does not give the size of the rate hike or any longer-term market forecast.