Bankex free fall as RBI kept the rates unchanged.

The Bse Bankex which represents the 10 banking stocks has fallen sharp as the RBI has kept the repo rate unchanged at 6.25%.
 
All the 10 stocks are trading in the index are trading in red. The Bankex has fallen by 190 points.
 
HDFC Bank, Federal Bank, Yes Bank, SBI, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Bank of Baroda and PNB which represent the index have lost in the range of 0.49 to 3.26%.
 
PNB is the highest loser in the index and has fallen by 3.26%. Sensex on the other hand, has fallen by nearly 200 points.  

RBI keeps repo rate unchanged at 6.25%.

RBI’s sixth bimonthly monetary policy review keeps repo rate unchanged at 6.25%.

MSF and Bank rate kept unchanged at 6.75%.

FY17 GVA seen at 6.9% FY18 GVA seen at 7.4% with rick evenly balanced.  CPI seen below 5%.Consequently, the reverse repo rate under the LAF remains unchanged at 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

 
The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 of 2016-17 and the medium-term target of 4% within a band of +/- 2%, while supporting growth.

Repo rate is the rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds.
 
Sensex is trading at 28160.10 levels down by nearly 200 points or 0.62%. Nifty is trading at 8741.15 levels down by nearly 50 points.

Live Stock Market Updates: Markets are trading cautious; Titan zooms by 8.8%.

There are almost 180 firms that are going to announce their Q3 results. Hero MotoCorp, NTPC, Cipla, Bharat Forge, Tata Chemicals, United Breweries and City Union Bank are some of the companies that would be in focus on Wednesday’s trading session.
 
Titan Company Ltd is trading at Rs 428 per share, up by 8.8%. PC Jewellers is trading at Rs 392 per share, up by 3.65%. Both these stocks are contributing the most in the BSE Consumer Durables index gains.
 
Bank stocks are trading cautious ahead of RBI’s monetary policy. Nifty PSU Bank index and Nifty Private Bank index are trading in negative territory by 0.12% and 0.3% respectively.
 
At 10:00 AM, the S&P BSE Sensex is trading at 28334.97 down by 0.19 points, while NSE Nifty is trading at 8771.35 up 3.05 points. A total of XX stocks registered a fresh 52-week high in trade today, while XX stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading up 0.52% at 13476.87, whereas BSE Small-cap Index is trading up 0.32% at 13571.98.
 

Opening Bell - Markets opens cautious ahead of RBI's monetary policy review

At 9:15 AM, the BSE Sensex opened higher by 50.92 points at 28386.08, while the Nifty50 opened higher by 6.25 points at the 8774.55 mark.
 
The rupee opened higher at 67.38 per dollar as against previous close of 67.41 per dollar.
 
There are 950 advances, 451 declines and 463 unchanged stocks on NSE reflecting positive bias floating in the market.
 
There are almost 180 firms that are going to announce their Q3 results. Hero MotoCorp, NTPC, Cipla, Bharat Forge, Tata Chemicals, United Breweries and City Union Bank are some of the companies that would be in focus on Wednesday’s trading session.
 
All eyes would be on the outcome of the Reserve Bank of India’s policy review, which will be announced at 2:30 p.m. today. The monetary policy committee headed by the RBI governor is expected to cut interest rates by 25 basis points, according to a poll of economists conducted by BloombergQuint.
 
The European markets closed on February 7 with mixed feelings. FTSE 100 closed at 7186.22 levels gaining 0.2%, CAC 40 of France closed at 4754.47 levels, down by 23.61 points or 0.5%, German DAX closed at 11549.44 levels, up by 39.6 points or 0.34%.
 
Nikkei 225 is trading higher by 8.59 points, Shanghai composite index is trading lower by 14 points, SGX Nifty is trading at 8805.50 levels, up by 6 points or 0.07%.