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Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Among sectoral indices, the Nifty PSU Bank index ended 0.52% higher led by IDBI Bank and Punjab National Bank, while Nifty Auto index settled 0.76% lower due to fall in Exide and Motherson Sumi.

SI Reporter  |  New Delhi 

Benchmark indices ended lower on Wednesday after the Reserve Bank of India (RBI) raised its repo rate by 25 bps to 6.5%. The policy comes amid rising inflation and a falling rupee. The widening current account deficit in an election year is also a key monitorable for the policymakers. The S&P BSE Sensex ended at 37,522, down 85 points while the broader Nifty50 index settled at 11,346, down 10 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,711.87 while the Nifty50 index touched its record high level of 11,390.55. Among sectoral indices, the Nifty ...

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Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Nifty PSU Bank index ends 0.52% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) IDBI BANK 62.15 58.85 3.30 5.61 PUNJAB NATL.BANK 87.40 85.10 2.30 2.70 UNION BANK (I) 88.05 86.45 1.60 1.85 ORIENTAL BANK 81.95 80.70 1.25 1.55 BANK OF INDIA 95.35 94.40 0.95 1.01

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Nifty sectoral gainers and losers of the day

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

BSE Sensex: ICICI Bank, Vedanta, Maruti among top losers of the day, Coal India top gainer

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

EXPERT'S VIEW ON RBI POLICY Jayant Manglik, President, Religare Broking The RBI hiked interest rates by 25bps along expected lines citing various risks to the inflation outlook, as it maintained the monetary policy stance at neutral. While acknowledging the recent cool-off in crude oil prices and the reduction in GST rates, which may have a disinflationary impact on inflation, the policy repo rate has been hiked in the backdrop of the uncertainty and volatility surrounding various inflation-impacting factors. These include global crude oil prices, global financial market volatility, input cost inflation, progress and distribution of monsoon, economy’s fiscal condition, the recently announced MSP hike and global trade protectionism, among others. However, by maintaining the monetary policy stance at neutral, we believe the RBI has retained some amount of flexibility as far as the rate decisions in the foreseeable future are concerned, which could be highly data dependent

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Market at close   The S&P BSE Sensex ended at 37,522, down 85 points while the broader Nifty50 index settled at 11,346, down 10 points.

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

WATCH VIDEO What are policy rates and how do they impact you? Reserve Bank of India in its bi-monthly policy review takes decisions on key indicators of the economy. Know those key indicators and how do they impact you. CLICK HERE FOR MORE

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Nifty PSU Bank index up nearly 1% COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME IDBI BANK 62.10 58.85 3.25 5.52 30342580 UNION BANK (I) 87.25 86.45 0.80 0.93 7261915 BANK OF INDIA 94.70 94.40 0.30 0.32 13400290 PUNJAB NATL.BANK 85.20 85.10 0.10 0.12 24034060        

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

RBI Monetary Policy   Viral Acharya: To alter CPI forecast once the MSP implementation is clear

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

RBI Monetary Policy   Urjit Patel: Financial markets remain unsettled, capital flows to emerging markets have declined.

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

7 key risks to inflation, according to RBI 1) Crude oil prices continue to be volatile and vulnerable to both upside and downside risks 2) Volatility in global financial markets continues to impart uncertainty to the inflation outlook 3) Households’ inflation expectations, as measured by the Reserve Bank’s survey, have risen significantly in the last two rounds, which could influence actual inflation outcomes in the months to come 4) Manufacturing firms polled in the Reserve Bank’s industrial outlook survey have reported hardening of input price pressures in Q2 of 2018-19 5) Though the monsoon has been normal temporally so far, its regional distribution needs to be carefully monitored in the context of key CPI components such as paddy 6) In case there is fiscal slippage at the centre and/or state levels, it could have adverse implications for market volatility, crowd out private investment and impact the outlook for inflation 7) The staggered impact of HRA revision by state governments may push headline inflation up

Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Markets trim losses Index Current Pt. Change % Change   S&P BSE SENSEX 37,608.73 +2.15 +0.01   S&P BSE SENSEX 50 11,888.37 +5.66 +0.05   S&P BSE SENSEX Next 50 33,732.03 +43.78 +0.13   S&P BSE 100 11,632.74 +6.89 +0.06   S&P BSE Bharat 22 Index 3,529.45 +21.97 +0.63

First Published: Wed, August 01 2018. 08:15 IST
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Sensex ends 85 points lower at 37,522; RBI hikes repo rate by 25 bps

Among sectoral indices, the Nifty PSU Bank index ended 0.52% higher led by IDBI Bank and Punjab National Bank, while Nifty Auto index settled 0.76% lower due to fall in Exide and Motherson Sumi.

Benchmark indices ended lower on Wednesday after the Reserve Bank of India (RBI) raised its repo rate by 25 bps to 6.5%. The policy comes amid rising inflation and a falling rupee. The widening current account deficit in an election year is also a key monitorable for the policymakers. The S&P BSE Sensex ended at 37,522, down 85 points while the broader Nifty50 index settled at 11,346, down 10 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,711.87 while the Nifty50 index touched its record high level of 11,390.55. Among sectoral indices, the Nifty ...

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