Markets turn volatilte as RBI maintains status quo on key rates
Markets extended losses after the RBI kept the repo rate and cash reserve ration unchanged but recovered sharply later. Free Stock Share Tips
The RBI has kept the repo rate unchanged at 8% and the Cash Reserve Ratio at 4%.
At 11:04AM, the 30-share Sensex was down 95 points at 28,465 and the 50-share Nifty was down 30 points at 8,526.
Financial Astrology Trading Tips
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(Updated at 10:20AM)
Benchmark indices have extended losses weighed down by selling pressure among rate-sensitive shares ahead of RBI policy meet and IT major Infosys.
By 10:20AM, the 30-share Sensex was lower by 105 points at 28,455 mark and the Nifty slipped by 33 points at 8,523 levels.
The Reserve Bank of India is expected to keep interest rates unchanged today, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth.
Meanwhile, National accounts reveal inflation rates across sectors are close to post-global financial crisis lows, Nomura says.
The rupee is trading at 62.01 near Monday's 62.02/03 close. Sentiment cautious ahead of RBI policy review announcement.
Asian equities are mixed on Tuesday, with a rebound in crude oil and other commodity prices favouring the stock markets of resource-exporting countries, while the likes of Tokyo's Nikkei struggled.
Crude oil held on to its gains after rebounding sharply overnight from five-year lows. The bounce in commodities was also a good omen for commodity currencies such as the Canadian and Australian dollars, and also helped gold to bounce back.Commodity Trading Tips
Back home, interest rate sensitive sectors like banks, realty and auto stocks are under pressure ahead of RBI's policy meet today.
BSE Bankex, Auto and Realty indices have plunged between 0.4-1%. Sectors like Consumer Durables and IT are also reeling under selling pressure.
The RBI has kept the repo rate unchanged at 8% and the Cash Reserve Ratio at 4%.
At 11:04AM, the 30-share Sensex was down 95 points at 28,465 and the 50-share Nifty was down 30 points at 8,526.
Financial Astrology Trading Tips
__________________________________
(Updated at 10:20AM)
Benchmark indices have extended losses weighed down by selling pressure among rate-sensitive shares ahead of RBI policy meet and IT major Infosys.
By 10:20AM, the 30-share Sensex was lower by 105 points at 28,455 mark and the Nifty slipped by 33 points at 8,523 levels.
The Reserve Bank of India is expected to keep interest rates unchanged today, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth.
Meanwhile, National accounts reveal inflation rates across sectors are close to post-global financial crisis lows, Nomura says.
The rupee is trading at 62.01 near Monday's 62.02/03 close. Sentiment cautious ahead of RBI policy review announcement.
Asian equities are mixed on Tuesday, with a rebound in crude oil and other commodity prices favouring the stock markets of resource-exporting countries, while the likes of Tokyo's Nikkei struggled.
Crude oil held on to its gains after rebounding sharply overnight from five-year lows. The bounce in commodities was also a good omen for commodity currencies such as the Canadian and Australian dollars, and also helped gold to bounce back.Commodity Trading Tips
Back home, interest rate sensitive sectors like banks, realty and auto stocks are under pressure ahead of RBI's policy meet today.
BSE Bankex, Auto and Realty indices have plunged between 0.4-1%. Sectors like Consumer Durables and IT are also reeling under selling pressure.
posted by Naresh Jain @ 01:35
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