India, Oct. 7 -- Nifty 50 Today Latest Live News: The Nifty 50 declined on Wednesday, October 7, following an interest rate hike by the Reserve Bank of India (RBI) by 25 basis points to 5.50%. This marked the first increase in rates since February 2023. At the opening of trade, the index stood at 22,690.45 against Tuesday's close of 22,776.10. The lowest level it reached was around 22,578. At about 11 am, the Nifty 50 was trading around 22,693, down 0.4%.

Initially, the reaction in the market was negative with investors taking note of the RBI's move, rise in crude oil prices, outflow of foreign funds, and inflation worries. The Nifty 50 had been rising for two consecutive days.

Nifty 50 Today Latest Live News: Why Is the Index Down?

Th...