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MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

The Nifty Metal index settled 3.7 per cent lower weighed by Jindal Steel and Power Hindalco and Tata Steel. Nifty Auto index, too, slipped 2.3 per cent due to a fall in Bharat Forge and Tata Motors

SI Reporter  |  New Delhi 

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The benchmark indices settled over 0.5 per cent lower on Wednesday even as the (RBI) kept the repo rate and reverse repo rate unchanged at 6.50 per cent and 6.25 per cent respectively, in its bi-monthly monetary policy.

The S&P BSE ended at 35,884, down 250 points or 0.7 per cent, while the broader Nifty50 index settled at 10,783, down 87 points or 0.8 per cent.

Among sectors, the Metal index settled 3.7 per cent lower weighed by Jindal Steel and Power Hindalco and Tata Steel. Auto index, too, slipped 2.3 per cent due to a fall in Bharat Forge and Tata Motors. The Bank fell 0.6 per cent dragged down by IndusInd Bank, YES Bank and ICICI Bank.

In the broader market, both the S&P BSE MidCap index and the S&P BSE SmallCap index fell 1.2 per cent each to settle at 14,914 and 14,338 respectively.

Monetary Policy

As was widely expected, the Monetary Policy Committee (MPC) of the (RBI) on Wednesday kept the key repo rate unchanged at 6.50 per cent. The reverse repo rate also stands unchanged, at 6.25 per cent. The statutory liquidity ratio (SLR), meanwhile, was cut by 25 basis points to 19.25 per cent from January 1, 2019. The central bank also said that SLR would be reduced by 25 basis points every quarter until it reaches the 18 per cent level. It was RBI's fifth bi-monthly monetary policy meet of the financial year 2018-19. READ MORE

Global Markets

Asian stocks slid on Wednesday, dragged down by Wall Street’s tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.35 per cent. Hong Kong’s Hang Seng retreated 1.55 per cent and the Shanghai Composite Index dipped 0.2 per cent. Japan’s Nikkei dropped 0.8 per cent and South Korea’s KOSPI shed 0.5 per cent. Australian stocks lost 1 per cent, pressured by global losses.

(with Reuters input)

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

Sectoral trend on NSE

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

S&P BSE Sensex top gainers and losers

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

Market at close   The S&P BSE Sensex fell 250 points or 0.69 per cent to settle at 35,884 while NSE's Nifty50 index dropped 87 points to close at 10,783.

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

Financials trade weak post RBI policy; DHFL, Reliance Capital down over 5% Shares of financial stocks led by non-banking finance companies (NBFC), housing finance companies (HFCs) and micro-finance institutions (MFIs) have fallen by up to 7% after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 6.50%. The committee maintained the calibrated tightening stance.   Reliance Capital, Dewan Housing Finance Corporation (DHFL), IDFC, Equitas Holdings, Can Fin Home Finance, Mahindra & Mahindra (M&M) Financial Services and Ujjivan Financial Services were down in the range of 5% to 7% on the BSE. In comparison, the S&P BSE Sensex was down 0.94% or 341 points at 35,793 at 02:53 pm. READ MORE

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

RBI Deputy Governor NS Vishwanathan: Benchmarking retail loans with external benchmark will bring more transparency

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

RBI Deputy Governor NS Vishwanathan: Retail and MSME loans will be linked to internal benchmark rate

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

RBI Deputy Governor Viral Acharya: Measures undertaken by RBI have eased stress in NBFC sector

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

RBI Deputy Governor Viral Acharya says have relaxed concentration limits on banks from 15% to 10%

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

RBI Guv: Fiscal slippage at state and central level will impact inflation outlook

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

RBI Guv: Need more data to assess full impact of MSP hike on CPI

MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

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First Published: Wed, December 05 2018. 08:14 IST
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MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates

The Nifty Metal index settled 3.7 per cent lower weighed by Jindal Steel and Power Hindalco and Tata Steel. Nifty Auto index, too, slipped 2.3 per cent due to a fall in Bharat Forge and Tata Motors

The benchmark indices settled over 0.5 per cent lower on Wednesday even as the (RBI) kept the repo rate and reverse repo rate unchanged at 6.50 per cent and 6.25 per cent respectively, in its bi-monthly monetary policy.

The S&P BSE ended at 35,884, down 250 points or 0.7 per cent, while the broader Nifty50 index settled at 10,783, down 87 points or 0.8 per cent.

Among sectors, the Metal index settled 3.7 per cent lower weighed by Jindal Steel and Power Hindalco and Tata Steel. Auto index, too, slipped 2.3 per cent due to a fall in Bharat Forge and Tata Motors. The Bank fell 0.6 per cent dragged down by IndusInd Bank, YES Bank and ICICI Bank.

In the broader market, both the S&P BSE MidCap index and the S&P BSE SmallCap index fell 1.2 per cent each to settle at 14,914 and 14,338 respectively.

Monetary Policy

As was widely expected, the Monetary Policy Committee (MPC) of the (RBI) on Wednesday kept the key repo rate unchanged at 6.50 per cent. The reverse repo rate also stands unchanged, at 6.25 per cent. The statutory liquidity ratio (SLR), meanwhile, was cut by 25 basis points to 19.25 per cent from January 1, 2019. The central bank also said that SLR would be reduced by 25 basis points every quarter until it reaches the 18 per cent level. It was RBI's fifth bi-monthly monetary policy meet of the financial year 2018-19. READ MORE

Global Markets

Asian stocks slid on Wednesday, dragged down by Wall Street’s tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.35 per cent. Hong Kong’s Hang Seng retreated 1.55 per cent and the Shanghai Composite Index dipped 0.2 per cent. Japan’s Nikkei dropped 0.8 per cent and South Korea’s KOSPI shed 0.5 per cent. Australian stocks lost 1 per cent, pressured by global losses.

(with Reuters input)

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