Fresh Record High On RBI Rate Cut Sensex Hits 30000 Mark And Nifty 9100

We are back with another Latest News guys Fresh Record High On RBI Rate Cut Sensex Hits 30000 Mark And Nifty 9100. It’s a major positive and the markets welcome this step by the RBI as it aligns with the government’s stand,” said the head of a foreign brokerage. “Now it remains to be seen how this rate cut is transmitted by other banks. Corporates will now have to revive their growth plans given the fall in interest rates.” RBI lowered its policy repo rate by 25 basis, its second inter-meeting cut this year on the back of easing inflation. The guidance on policy action given in the fifth-bi-monthly monetary policy statement of December 2014 is largely unchanged.

Rate Cut Sensex Hits 30000 Mark And Nifty 9100

• Rate Cut Sensex Hits 30000 Mark And Nifty 9100 Key indices jumped in early trade after the Reserve Bank of India in a surprise unscheduled monetary policy review today, 4 March 2015, reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points (bps) from 7.75% to 7.5% with immediate effect. The barometer index, the S&P BSE Sensex crossed the 30,000 level for the first time in its history. Nifty moved past psychological 9,000 level. It had settled below that level yesterday, 3 March 2015. The Sensex, and, the 50-unit CNX Nifty, both, hit their record highs. The Sensex was currently up 299.01 points or 1.01% at 29,892.74. The market breadth indicating the overall health of the market was strong with more than two gainers for every loser on BSE.

• Food prices will be affected by the seasonal upturn that typically occurs ahead of the south-west monsoon and, therefore, steps the government takes on food management will be critical in determining the inflation outlook,” he said.Inflation in January 2015 at 5.1% as measured by the new index was well within the target of 8% for January 2015. Prices of vegetables declined and, hearteningly, inflation excluding food and fuel moderated in a broad-based manner to a new low. (Source By Hindustan Times)

• India’s 10-year benchmark bond yield fell to 7.64 per cent, the lowest since February 2, compared with its Tuesday’s close of 7.75 per cent and the rupee rose to 61.7650/7750 to the dollar versus previous close of 61.9150/9250, Reuters reported. The rupee rose as much as 61.65, its strongest since February 4.