Sensex tanks over 1,300 points, ends below 55,669 after RBI hikes interest rate

Indian equity benchmarks on Wednesday plunged sharply after the Reserve Bank of India (RBI) decided to raise the repo rate by 40 basis points to 4.40 per cent.

In the closing session, the 30-share BSE benchmark tumbled over 1,300 points and closed at 55,669.

While the NSE Nifty was trading below 16,800 points, after tanking nearly 400 points.