In the last policy announcement on May 3, the central bank had cut its key rate of lending, the repo rate, by 0.25%.
The Wholesale Price Index-based on inflation fell to 4.7% in May, driven mainly by decline in prices of manufactured items, even as prices of food articles inched up.
Tata Motors, M&M, Bajaj Auto, Oberoi Realty, Indiabulls Real Estate, PNB, ICICI Bank and Yes Bank are up over 3% on BSE.
Dollar's weakness against some Asian currencies helps rupee
Investors were unimpressed with lack of measures to arrest rupee's fall
In the last policy announcement on May 3, the central bank had cut its key rate of lending the repo rate by 0.25%.
Inflation may rise by 60 bps, while CAD may inch up by 0.4% of GDP
Reacts as no clear policy decisions announced
Increased demand for the US currency from banks and importers amid a weak opening in local equities affects rupee
Status quo in policy will lead to rise in yields, hurt banks' profitability
Since January 1, the rupee value has fallen by 5.5% against the US dollar and touched life-time low of 58.98 yesterday
Fitch today revised the credit outlook to stable from negative but retained the rating at BBB- bringing cheer to the government struggling to arrest the rupee slide
CPI inflation slowed to 9.39% in April compared with 10.39% in March. CPI inflation for May will be released this week
However, they say govt may be compelled to usher in more reforms such as getting pending bills passed and allowing FDI in more sectors
Abetment in debt sell off by FIIs also helped the rupee strengthen
The rupee had touched an all-time intra-day low of 58.98 yesterday on strong dollar demand before closing at 58.39
The rupee today lost its losing streak, continuing for last 5 sessions
The YES Bank family tussle puts focus on RBI guidelines on appointment of directors