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In its policy review today, the Reserve Bank of India has kept repo rate unchanged at 6.50 percent, with CRR at 4 percent. The S&P BSE Sensex is trading at 26,890 up 105 points, while NSE Nifty is trading at 8,232 up 31 points. The BSE Mid-cap Index is trading up 0.26% at 11,413, whereas BSE Small-cap Index is trading up 0.55% at 11,234.
SBI, ICICI Bank, HUL, M&M, Hero MotoCorp and NTPC are among the gainers, whereas Axis Bank, Adani Ports, Dr.Reddy's, RIL, HDFC, L&T and Bharti Airtel are losing sheen on BSE.
Some buying activity is seen in FMCG, banking, metal, auto, realty, power, and capital goods sectors, while energy and oil & gas are showing weakness on BSE. The INDIA VIX is down 0.83% at 15.2275. Out of 1,802 stocks traded on the NSE, 541 declined, 929 advanced and 332 remained unchanged today.
A total of 35 stocks registered a fresh 52-week high in trades today, while 25 stocks touched a new 52-week low on the NSE.
The Reserve Bank of India governor, Raghuram Rajan, kept the benchmark repo rate unchanged at 6.5% and Cash Reserve Ratio at 4% in the monetary policy review. The banks also kept the Statutory Liquidity Reserve unchanged.
Reacting to the RBI policy, bank stocks are trading on a mixed note with moderate to medium gain/loss on BSE.
However, the central bank warned that inflation risks were on the upside even as it retained the inflation targets set out in the April policy. On the positive side, the RBI said its policy stance continues to remain 'accomodative.' The GDP growth target for the current fiscal has been retained at 7.6% by the RBI.
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