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There was a stampede in the market due to the repo rate hike of RBI. Sensex and Nifty 50, both domestic benchmark indices closed with a huge fall of more than 2% Due to the fall of the market today, the capital of the investors was cleared by Rs 6.5 lakh crore. Only three Sensex stocks have closed in the green today, while only 5 stocks have strengthened on Nifty 50. The Sensex closed down 1306.96 points at 55,669.03 and Nifty closed at 16,677.60 with a slippage of 391.50 points. All sector indices of Nifty fell today.
RBI has announced an increase of 40 basis points in the repo rate. Due to this, now the repo rate has increased to 4.40%. This decision was taken in a sudden meeting of the Monetary Policy Committee.RBI Governor Shaktikanta Das announced this today. This decision of RBI has come at a time when inflation is at its peak in the country. Consumer Price Inflation has been above the limit set by RBI for the last three months. The government has given a target to the Reserve Bank to keep the inflation rate in the range of 2 to 6%.
The wait for the mega IPO of the country's largest insurance company Life Insurance Corporation is over. This issue will be open for investment today from Wednesday 4th May to 9th May. LIC has fixed the price band for IPO at Rs 902-949 per share. At the same time, the lot size in this is 15 shares. Investors can bid for a maximum of 14 lots. The size of LIC's IPO is Rs 21,000 crore.
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