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RBI: Social humour: Sensex explodes after RBI’s surprise rate hike – Times of India

May 4, 2022
Sezarr

Disclaimer: This is a compilation of tweets being shared by netizens across the world. times of India Neither condones nor endorses any of the views shared herein in this article.
Investors turned poor by over Rs 6.27 lakh crore after market collapse on Wednesday reserve Bank of India ,reserve Bank of India) increased the policy rate by 40 bps in a surprise move.

Off-cycle hike in repo rate by RBI impacted equity indices along with benchmark BSE Sensex Broke over 1,300 points. Both the indices fell over 2 per cent each after the RBI raised the benchmark lending rate to 4.40 per cent to control inflation.
30-share BSE The benchmark Sensex closed 1,306.96 points or 2.29 per cent lower at 55,669.03. During the day, it closed at 55,501.60, down 1,474.39 points or 2.58 per cent. Whereas, the broader NSE Nifty ended 392 points or 2.29 per cent lower at 16,678.

With the fall in equities, the market capitalization of BSE-listed firms declined by Rs 6,27,359.72 crore to Rs 2,59,60,852.44 crore.
Micro-blogging platform Twitter exploded with memes after the stock market crashed.

Never shop at Dip, as it may be the new peak

Meanwhile, LIC today opened its IPO for retail investors.