Nifty 50 index was down 0.41 per cent at 16,286.75, while the S&P BSE Sensex fell 0.45 per cent to 54,652.60.
Sensex and Nifty fell in red.
HIGHLIGHTS
- Technology stocks falling 0.9 per cent
- Real estate stocks were down 0.8 per cent
- RBI raised the repo rate by 50 basis points
Key equity indexes of the share market extended losses for a fifth session on Thursday and stocks across sectors dropped as global investor mood turned dour over worries that more rate hikes and a faster pace of tightening by central banks might hamper economic growth.
The NSE Nifty 50 index was down 0.41 per cent at 16,286.75, while the S&P BSE Sensex fell 0.45 per cent to 54,652.60. If losses hold, both indexes will log a loss for a fifth consecutive session.
Most major sub-indexes were trading lower early on Thursday with technology stocks falling 0.9 per cent, while real estate stocks were down 0.8 per cent.
On Wednesday, in a widely expected move, the Reserve Bank of India raised the repo rate by 50 basis points just a month after an unscheduled 40 basis point repo rate hike in May, signalling stricter tightening ahead to fight soaring inflation.
On Thursday, Asian shares also fell with MSCI’s broadest index of Asia-Pacific shares outside Japan slipping 0.39 per cent ahead of a key meeting of the European Central Bank.
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