Indian Shares Slip Following RBI Interest Rate Pause
The Nifty 50 and Sensex closed lower on Friday after the Reserve Bank of India maintained interest rates but raised inflation projections to 5.1 percent. Markets reacted to a trimmed GDP growth forecast of 6.6 percent amid concerns over rising energy costs and a weak monsoon season.
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India equity benchmarks fell Friday after the central bank held interest rates, with the Nifty 50 dropping 0.21% to 23,366.70. The BSE Sensex shed 0.16% to 74,243.34 as the Reserve Bank of India lowered its annual growth outlook. Investors must now rely on corporate earnings growth rather than monetary easing to justify current market valuations.
