The Reserve Bank of India's (RBI's) 50-basis point (bps) repo rate hike triggered a sharp pullback rally in banking stocks on Friday. Relative to the Nifty50's 1.64 per cent gain, the Nifty Bank index surged 984 points, or 2.6 per cent, on the National Stock Exchange (NSE). It had rallied 3 per cent intra-day.
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First Published: Fri, September 30 2022. 14:15 IST