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Indian shares rise after RBI rate hike; Adani stocks jump

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Indian shares held steady on Wednesday after the Reserve Bank of India delivered a smaller interest rate hike as widely expected, while embattled Adani Group shares recouped losses for a second straight day.

the key policy repo rate by 25 basis points, in line with economists' expectations, and surprised markets by leaving the door open to more tightening, saying core inflation remained high.

"The RBI's decision will have a neutral impact on the markets, at least two members of the monetary policy committee were against a rate hike, wanted a pause ... That's a positive given the inflation is below the upper level of the RBI's tolerance band," said Neeraj Dewan, director, Quantum Securities

"The stickiness of core or underlying inflation is a matter of concern. We need to see a decisive moderation in inflation," RBI Governor Shaktikanta Das

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