Markets Open Flat After RBI Hike; Pharma, IT Lead, Financials Slip
Nifty opened at 22,599 and Sensex at 72,668 after the RBI's rate hike. Pharma and IT gained while financials fell. FIIs sold ₹6,121 crore, outpacing DII buying.
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“Markets Open Flat After RBI Hike; Pharma, IT Lead, Financials Slip”
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8 Oct 2026
Key Highlights
- Flat start: Nifty opened at 22,599.05 (down 4 points); Sensex at 72,668 (up 29.30 points).
- Sector shift: IT, Pharma and Healthcare gained up to 0.59%; financials and FMCG slipped.
- RBI effect: Experts say the RBI's "calibrated tightening" could pressure valuations and favour interest-insensitive sectors like pharma.
- Flows turn: FIIs sold ₹6,121 crore while DIIs bought ₹4,596 crore, a net outflow after three sessions of domestic dominance.
- US yields: The US 10-year Treasury yield is above 5.3%.
Indian markets opened largely flat on Thursday, a day after the RBI raised its repo rate by 25 basis points to 5.50%. Nifty opened at 22,599.05, down 4 points, while Sensex started at 72,668, up 29.30 points.
Gains in IT and pharma were offset by weakness in financial, FMCG and auto stocks.
Why It Matters: Investors Reposition for Higher Rates
The sector moves show investors adjusting to the RBI's message. Experts said the central bank's "calibrated tightening" stance could pressure equity valuations, as higher interest rates make fixed-income investments more attractive.
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This article is for general information only and does not constitute financial or legal advice.
