The stock market was shocked when the RBI increased the repo rate on May 4 and again on June 8. Nifty slipped over 7% within a week. But the latest rate hike of August 5 has not shed any feathers. Despite the 50 basis point hike in the repo rate being higher than expected, the market is jumping with joy. The stock markets may have shrugged off the rate hike, but the bond market could not escape the impact. government bond