RBI CUTS CRR:
Rbi has brought down CRR BY 50 basis points to 4.50%. It will inject Rs 17000 crores in the market and will bring down home loan auto loan rates. This move was necessary due the lack of capital flowing in the economy which is hurting our growth.
According to the RBI's credit policy, the inflationary pressure at WPI and retail levels is still strong and the primary policy aim is to contain inflation.
"RBI believes that inflation momentum remains fairly strong. It would want to wait for these measures to sustain and translate into productivity gains before unequivocally favoring monetary easing," said an Emkay Global Financial Services report.
SENSEX PERFORMANCE
At 02:45 pm, the 30-share index was at 18,608.49, up 144.22 points or 0.78 per cent. The broader index touched a high of 18,715.03 and a low of 18,480.54 in trade today.
The Nifty was at 5,629.25, up 51.60 points or 0.93 per cent. The broader index touched a high of 5,652.20 and a low of 5,585.15 in trade today.
The BSE Midcap Index and the BSE Smallcap Index were up 1.28 per cent each.
The BSE Realty Index surged 6.26 per cent, the BSE Capital Goods Index gained 4.81 per cent, the BSE Bankex moved 3.69 per cent higher and the BSE Auto Index advanced 2.61 per cent. The BSE FMCG Index was down 3.90 per cent, the BSE IT Index fell 3.01 per cent and the BSE Healthcare Index was 1.65 per cent lower.
Jindal Steel (6.65%), ICICI Bank (5.32%), SBI (5.25%), Larsen & Toubro (4.91%) and BHELBSE 4.30 %(4.55%) were among the major Sensex gainers.
ITC (5.46%), TCS (4.61%), Dr Reddy's Laboratories (4.09%), Hindustan Unilever (2.89%) and Infosys Technologies (2.80%) were among the major index losers
.
BSE Sensex rose for a ninth consecutive session to its highest close since July 2011,.
The market breadth was positive on the BSE with 1459 gainers against 1253 losers.
Rbi has brought down CRR BY 50 basis points to 4.50%. It will inject Rs 17000 crores in the market and will bring down home loan auto loan rates. This move was necessary due the lack of capital flowing in the economy which is hurting our growth.
According to the RBI's credit policy, the inflationary pressure at WPI and retail levels is still strong and the primary policy aim is to contain inflation.
"RBI believes that inflation momentum remains fairly strong. It would want to wait for these measures to sustain and translate into productivity gains before unequivocally favoring monetary easing," said an Emkay Global Financial Services report.
SENSEX PERFORMANCE
At 02:45 pm, the 30-share index was at 18,608.49, up 144.22 points or 0.78 per cent. The broader index touched a high of 18,715.03 and a low of 18,480.54 in trade today.
The Nifty was at 5,629.25, up 51.60 points or 0.93 per cent. The broader index touched a high of 5,652.20 and a low of 5,585.15 in trade today.
The BSE Midcap Index and the BSE Smallcap Index were up 1.28 per cent each.
The BSE Realty Index surged 6.26 per cent, the BSE Capital Goods Index gained 4.81 per cent, the BSE Bankex moved 3.69 per cent higher and the BSE Auto Index advanced 2.61 per cent. The BSE FMCG Index was down 3.90 per cent, the BSE IT Index fell 3.01 per cent and the BSE Healthcare Index was 1.65 per cent lower.
Jindal Steel (6.65%), ICICI Bank (5.32%), SBI (5.25%), Larsen & Toubro (4.91%) and BHELBSE 4.30 %(4.55%) were among the major Sensex gainers.
ITC (5.46%), TCS (4.61%), Dr Reddy's Laboratories (4.09%), Hindustan Unilever (2.89%) and Infosys Technologies (2.80%) were among the major index losers
.
BSE Sensex rose for a ninth consecutive session to its highest close since July 2011,.
The market breadth was positive on the BSE with 1459 gainers against 1253 losers.
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