MARKET LIVE: Sensex down 150 pts post RBI policy; FMCG, PSBs buck trend- QHN | QHN: Talks about News, Media and Trending Topics

Stock market live updates: Equity markets turned volatile after the Reserve Bank of India (RBI) hiked repo rate by 35 basis points to 6.25 per cent. The decision was taken with a 5:1 majority.

RBI, however, lowered its GDP growth forecast for FY23 to 6.8 per cent from 7 per cent earlier. The MPC voted 4-2 to remain focused on withdrawing accommodation so that inflation remains within the target while supporting growth. READ MORE

Against this backdrop, the BSE Sensex erased gains to dip 200 points to 62,400, and the NSE Nifty50 was fell 67 points to 18,576.

In the broader markets, the BSE MidCap and SmallCap indices fell up to 0.56 per cent.

HCL Tech, Wipro, NTPC, TCS, Tech M, Kotak Bank were the top laggards on the Sensex, down up to 0.7 per cent, while ONGC was the top Nifty loser.

On the flip side, Asian Paints, L&T, ICICI Bank, SBI, Ultratech Cement, Sun Pharma, Cipla and BPCL were the top gainers across the two indices.

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