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Last Updated : Jul 27, 2011 08:23 AM IST | Source: CNBC-TV18

Rate hike to keep market off balance? Nirmal Jain answers

"It's difficult to say that worst is over. We hope that the central bank refrains from hiking rates further in the next October meet," Nirmal Jain, Chairman of India Infoline told CNBC-TV18.

A sharper-than-expected hike of 50 basis points each by the Reserve Bank of India (RBI) in its key lending rate spooked the market today. Rate sensitive counters like auto, banking and realty bore the brunt of heavy selling.

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First Published on Jul 26, 2011 04:33 pm