Sensex, Nifty close in red after RBI keeps rate unchanged

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

07 April, 2017

The benchmark BSE Sensex was trading down by over 130 points as investors remained cautious ahead of the RBI's monetary policy to be announced later in the day.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped down by 3.20 points or 0.03 per cent to 9,261.95 points.

On Monday the Sensex closed at 29,910.22 points while it was a trading holiday on Tuesday.

The RBI left the short-term lending rate or repo rate unchanged at 6.25 per cent, and the cash reserve ratio static at 4 per cent.

RBI however increased the reverse repo rate - which it pays to banks for parking funds with it - by 0.25 per cent to 6 per cent, narrowing the policy rate corridor. The central bank also raised the growth forecast for the current fiscal to 7.4% from 6.7% in 2016-17.

Rice thickens the Trump spy plot
But there are some likely explanations for why Rice would have been briefed on intelligence involving the incoming administration. That comes back to me, not to anybody broadly in the national security world, and that is necessary for me to do my job.

Chelsea Clinton: I'm not the person to defeat Trump
Patrick's Day speech in March, Hillary Clinton said she is "ready to come out of the woods", spurring speculation about her future.

Game of Thrones Season 7 trailer: Cersei seized the Iron Throne
Although Cersei Lannister ( Lena Heady ) is peacefully reclining on the throne in the Red Keep, her position doesn't look stable. Ever since its release, it has a massive worldwide fan following and has bagged various awards over the last couple of years.

Among other rate-sensitive counters, SBI tumbled 1.35% while ICICI Bank fell 1.40%. However, due to profit-taking at record levels, it shed some ground to close at 9,265.15, up by 27.30 points or 0.30%. However, the market breadth remained positive as 1,469 stocks ended higher, 1,413 declined, while 137 ruled unchanged. Hawkish Fed minutes and anxiety ahead of a two-day meeting between US and Chinese leaders also weighed on markets.

Buying in energy 1.20 per cent, realty 0.91 per cent, media 0.65 per cent, commodities 0.58 per cent, metal 0.28 per cent and IT 0.26 per cent capped the losses.

Investors also looked ahead to some key events this week, including the release of minutes of the latest Federal Reserve meeting later today, the U.S.

HDFC Securities said, "Indian equity markets are likely to open on a flat to negative note following Asian cues".

The Nikkei Composite Purchasing Managers' Index rose to 52.3 in March from 50.7 in February. Frankfurt's DAX 30 fell 0.41% while Paris CAC 40 was down 0.07% in their early deals.


More news


  • Working Together to Stop Distracted Driving

    Although using a hand-held cell phone or texting while driving is illegal in New Jersey, the practice appears to be widespread. This summer, CDOT will launch a statewide, high-visibility awareness campaign aimed at decreasing distracted driving.

    Rice was within legal rights to 'unmask' Trump associates

    And the intelligence community, the director of the Federal Bureau of Investigation , has made that very clear. She said the White House isn't responsible for ordering that type of surveillance.
    Escape of cattle from St. Louis slaughterhouse spurs roundup

    Escape of cattle from St. Louis slaughterhouse spurs roundup

    News 4 reported that a herd of cattle escaped from star packing company, located in the 3800 block of Cote Brilliante. In this Thursday, March 30, 2017 photo, a heifer busts through an iron fence at the Little Sisters of the Poor in St.
  • Plug Power shares surge on Amazon deal

    Plug Power shares surge on Amazon deal

    Zacks Investment Research downgraded Plug Power from a "hold" rating to a "sell" rating in a report on Wednesday, January 18th. Rodman & Renshaw Initiated its coverage for Plug Power Inc . (NASDAQ: PLUG ), with 4 analysts believing it is a strong buy.
    Head of Trump-Russia probe under fire, won't step down

    Head of Trump-Russia probe under fire, won't step down

    Trump suggested late Monday that the House panel should investigate Bill and Hillary Clinton's dealings with Russian Federation . According to Spicer's timeline, the House Intelligence Committee invited Yates on March 14 to testify this Tuesday.

    Stars playing for their Man City futures, says Guardiola

    Gabriel Jesus has returned to training with Manchester City seven weeks after breaking a bone in his foot . The symbol of Chelsea's collapse last season, Eden Hazard has spearheaded the revival under Antonio Conte.
  • Did Fox have a duty to disclose O'Reilly settlements?

    Did Fox have a duty to disclose O'Reilly settlements?

    Waters' comments came just a week after she found herself on the receiving end of O'Reilly's commentary. So, intellectually you can make a strong argument that O'Reilly's days at Fox News are numbered.
    Vehicle  rams into bus stop in occupied West Bank

    Vehicle rams into bus stop in occupied West Bank

    Elichai Taherlev, 20, of the Golani Brigade was killed in the incident, and another 19-year-old soldier was slightly injured. The attack was part of a spate of violence that broke out in September 2015 but has abated in recent months.

    Trump tells newspaper Obama aide might have broken the law

    After the Benghazi massacre, which left four Americans, including a USA ambassador, dead, Rice was paraded around the TV shows. It's hardly out of the ordinary for a White House official like Rice, with high security clearances, to request unmasking.
  • Federal judge blocks IN  ultrasound requirement

    Federal judge blocks IN ultrasound requirement

    The financially rich Planned Parenthood could have solved the problem by installing sonogram equipment at its satellite centers. He works as an Online Marketing Consultant for, providing web marketing services for clients in Albany , Goldsboro .
    See a Clip From McKenna Grace's New Movie, 'Gifted'

    See a Clip From McKenna Grace's New Movie, 'Gifted'

    According to Slate, one incident involved her accidentally kneeing Evans below the belt during a makeout scene. You spend five minutes with her and you can not find something bad to say about her if you tried.

    Fed minutes - Debate over inflation, Trump

    Fed watchers were not expected such a granular discussion at the meeting, thinking it would wait until the May or June meeting. The minutes showed that several Fed officials thought Trump's stimulus plans wouldn't likely begin before next year.