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Thursday, 6 April 2017

Nifty ends above 9250, Markets end flat as RBI keeps repo rate unchanged

stock market trading tips
The benchmark indices settled the day on a lower note on weak global cues. The BSE Sensex, fell 46.90 points at 29,927.34, while the NSE Nifty index lost 13.30 points 9,251.85. The overall market breadth was positive with 1,463 advancing shares and 1,408 declining shares, while 137 shares were unchanged. 

Banks stocks and Real estate stocks rallied after the RBI Monetary Policy Committee decided to keep the policy rates and cash reserve ratio unchanged. The policy repo rate under LAF unchanged at 6.25%. The reverse repo rate under the LAF is at 6.0%, and the MSF rate and the Bank Rate are at 6.50%.

Banking stocks did not act in response much to the RBI decision, with the Nifty Bank index trading down 0.14%. The bank index has risen about 19 percent this year. Punjab National Bank, IndusInd Bank, and Axis Bank were top contributors in the Bank index while ICICI and Federal Bank were losers post the policy outcome.

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