NEW DELHI: An off-cycle hike in repo rate by the Reserve Bank of India (RBI) spooked equity indices on Wednesday, with the benchmark BSE sensex crashing over 1,300 points.
Both the indices fell over 2 per cent each after the RBI raised benchmark lending rate to 4.40 per cent to contain inflation.
The BSE index plunged 1,306 points or 2.29 per cent to close at 55,669. While, the broader NSE Nifty settled 392 points or 2.29 per cent lower at 16,678.
