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gamesindustryblog.com April 24, 2017


Sensex sheds 133 points ahead of RBI policy decision

07 April 2017, 02:26 | Muriel Sparks

Sensex breaches 30k-mark ahead of RBI Monetary Policy Committee meet

Sensex breaches 30k-mark ahead of RBI Monetary Policy Committee meet

The BSE index hit a high of 30,007.48 in intra-day trade, but slipped to 29,817.69 before settling at 29,974.24, up 64.02 points or 0.21 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,265.15 points, was quoting at 9,230.40 points, down by 34.75 points or 0.38 per cent.

However, in pre-market opening, Sensex touched 29,996-mark and Nifty a new high of 9,264-level.

UN chief at Iraq camp urges more aid for people of Mosul
Townsend has delegated the right to approve bombings further down the hierarchy to allow a quick response to help Iraqi troops. Earlier this week, the Pentagon said it would deploy another 200 to 300 USA troops to help liberate the city.

BSE Sensex and NSE Nifty, both of which were trading down since morning on concerns that the RBI will keep a tight monetary policy to keep inflation in check, rebounded immediately after the policy statement was released, breathing a sigh of relief as the central bank refrained from pulling any surprises to spook the markets. The policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 percent.

The central bank also projected the GDP growth for the current fiscal at 7.4 per cent, up from 6.7 percent in 2016-17.

"Q4 numbers should take centre-stage from here on, but global cues could also hold sway in the coming days, specially with US markets beginning to show vulnerability ahead of (US) NFP (non-farm payroll) jobs data". At 9.15am, the home currency was trading at 65.06, down 0.27% from its Wednesday's close of 64.88. Hawkish Fed minutes and anxiety ahead of a two-day meeting between USA and Chinese leaders also weighed on markets. However, the market breadth remained positive as 1,469 stocks ended higher, 1,413 declined, while 137 ruled unchanged. Among BSE sectoral indices, FMCG slumped 0.79%, followed by consumer durables (0.64%), healthcare (0.63%), capital goods (0.21%), bank (0.21%) and auto (0.08%). Federal Reserve minutes suggested the U.S. central bank was considering steps that could result in a further tightening of monetary policy. On the other hand, realty index was up 0.88 per cent, oil & gas 0.48 per cent, IT 0.16 per cent and TECk 0.01 per cent. "Major Asian markets ended on a negative note, barring the Jakarta and Shanghai indices, while European indices like FTSE 100 and DAX traded lower", Jasani added.



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