ECONOMY ANALYSIS
- Nifty gains for 9th day; BSE Bankex down 1% post RBI policy
- Buy IT, pharma on dips; avoid stocks that rise 10% daily: Raamdeo Agarwal
- RBI to maintain status quo ; see Mar CPI at 8.2%: ICRA
- Monetary Policy: RBI keeps policy rates, CRR unchanged
- RBI Credit Policy: Here's what brokerages expect to hear
- India an absolute star among EMs: Credit Suisse
- FTIL defies MCX's decision to consider a pref allotment
- AM Naik sells his L&T shares worth Rs 72 cr in 20 days
MARKET ANALYSIS
- MUMBAI: The S&P BSE Sensex pared intraday losses and closed at a fresh all-time closing high on the back of gains in technology, oil & gas and pharmaceuticals. Rate sensitives ended in the red even as the Reserve Bank of India maintained status quo on interest rates. However, its hawkish guidance has raised concerns of a possible rate hike post general elections.
- The RBI has left repo rate at 8 per cent, reverse repo rate at 7 per cent and CRR at 4 per cent."The Reserve Bank's stance will be firmly focused on keeping the economy on a disinflationary glide path that is intended to hit 8 per cent CPI inflation by January 2015 and 6 per cent by January 2016," the RBI policy statement said.
- Following the policy statements, analysts are of the view that there will be no rate cuts in the near term as the governor sees the risk of retail inflation. In fact they are of the view that once elections are out of the way, the central bank may in fact hike interest rates.
- Goldman Sachs believes that RBI's overall tone on inflation is hawkish and sees upside risks to the RBI's inflation trajectory for FY15. It expects the central bank to hike interest rates by another 50 bps in 2H 2014.
MAJOR INDICES
INDIAN MARKET
INDEX
|
CLOSE
|
CHANGE
|
% CHANGE
|
SENSEX
|
22446.44
|
60.17
|
0.27
|
NIFTY
|
6721.05
|
16.85
|
0.25
|
BANK NIFTY
|
12588.50
|
-153.55
|
-1.21
|
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