Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
A quaint Indian idea called face value is putting high-performing companies out of the reach of retail investors, observes Debashis Basu.
The broader NSE Nifty reclaimed the 11,600 level, zooming 326 points or 2.9 per cent to settle at 11,600.20. Top gainers in the Sensex pack included Bajaj Finance, L&T, Asian Paints, ITC, Axis Bank, Kotak Bank, ICICI Bank, HDFC twins, Maruti and SBI, rallying up to 8.70 per cent.
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