RBI MPC LIVE: Sensex off 300pts from day's low; bank shares rise post RBI rate hike

RBI reported movement of 7.1% and 40 basis points for FY27. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

This is a Rate / liquidity policy event. Rate direction moves bank margins and the discount rate applied to every long-duration asset. The commentary usually matters more than the decision, which is often already priced.

Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.