Indian Shares Fall Ahead of RBI Rate Decision
Indian shares declined broadly as rate-sensitive sectors dragged markets lower ahead of an anticipated central bank rate hike. Persistent inflationary pressures and rising oil prices weighed on investor sentiment across all major sectors.
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India's Nifty 50 fell 0.80% to 22,590.8 and the BSE Sensex shed 0.69% to 72,569.36 during Wednesday morning trade amid an expected central bank rate hike. The broad-based decline was led by rate-sensitive sectors as persistent inflationary pressures from the Middle East conflict impacted global markets. The Reserve Bank of India is widely expected to raise rates by 25 basis points, marking its first increase since February 2023.
