Indian benchmarks subdued after RBI rate pause; IT set for worst week in four months

India's stock benchmarks down 0.2%, trimming earlier losses of up to 0.5%, after RBI's widely expected rate pause

Rate-sensitives such as financials .NIFTYFIN and realty .NIFTYREAL pare most of the losses, while private banks .NIFPVTBNK, consumer .NIFTYFMCG gain 0.4% and 1.6%, respectively

"RBI's decision reflects an improved domestic growth outlook, an evolving inflation backdrop and improving external demand prospects after trade deals with the U.S. and EU," says Amar Ambani, executive director and head of institutional equities at Yes Securities

Small- .NIFSMCP100 and mid-caps .NIFMDCP100 drop 0.8% and 0.6%, respectively

IT .NIFTYIT slides 1.5%, tracking a global sell-off in technology stocks on concerns over AI-linked disruption to the sector, spurred by U.S. firm Anthropic

IT index down about 7% this week, set for its worst week in four months

Markets swung sharply through the extended week — which opened with the Sunday's federal budget, followed by a surprise U.S. trade deal, a global tech selloff and the RBI policy decision, though benchmarks are still up 1.2% and on track for their best week in three months