Indian benchmark indices ended lower in a volatile session, snapping their two-day winning streak after the RBI raised the repo rate by 25 bps to 5.50%, its first hike since February 2023, and shifted its stance to calibrated tightening.


After a weak start, the Nifty broke below 22,600 intraday and witnessed some buying in the mid-session; however, gains failed to sustain, with the index remaining under pressure through the day amid selling in rate-sensitive sectors.

The RBI raised its FY27 GDP growth forecast to 7.1% from 6.7%, while lifting the inflation projection to 5.2% from 5%.

At close, the Sensex was down 429.11 points or 0.59 percent at 72,638.70, and the Nifty was down 173.05 points or 0.76 percent at 22,603.05.

Broader indices ended mixed with Nifty Midcap index falling 0.6%, and smallcap index gaining 0.3%.

Biggest Nifty losers were Titan Company, Adani Enterprises, Hindalco Industries, JSW Steel, Bharat Electronics, while gainers included Kotak Mahindra Bank, BSE Limited, Bharti Airtel, ICICI Bank and Coal India.

Among sectors, except media and PSU Bank, all other indices ended in the red with FMCG, IT, auto, metal, realty down 1-2%.

More than 150 stocks touched 52-week low, including Max Healthcare, IOC, Bharti Hexacom, Bikaji Foods, Bombay Burmah, Max Financial, NSDL, IOC, Avenue Supermarts, among others. 

On the other hand, more than 150 stocks touched 52-week high, including PVR INOX, Gland Pharma, TBO Tek, HFCL, PTC Industries, Leela Palaces, BHEL, Laurus Labs, Welspun Living, among others.

Among individual stocks, Titan Company shares fell more than 3 percent despite strong Q2 business performance, Asset Reconstruction Company India shares gained 10 percent on reporting 14.6% YoY rise in Q1 profit to Rs 59.1 crore.

Kanohar Electricals shares surged 14 percent post reported 140% YoY jump in Q1 profit, while Glass Wall Systems shares fell 5 percent post profit decline in Q1.

Among other stocks, Marsons shares gained 11 percent on JV with New York-based private equity firm Cleanhill Partners and Kalyan Jewellers share price rose 4% on posting 26% year-on-year consolidated revenue growth in Q2

Gland Pharma share price rose more than 4% after Nomura maintained Buy with a target price of Rs 3,750 and PVR INOX jumped nearly 7% post CLSA kept Outperform rating with a target price of Rs 2,135.

Indian rupee ended near day's low at 96.77 per dollar, down 35 paise from its previous close of 96.42.