The wider NSE index Nifty cracked below
NSE Nifty slipped below the crucial 7,700-mark.95 per cent, Axis Bank 1.5 per cent was largely in line with market expectations and failed Journal bearings to boost sentiment. RBI Governor Raghuram Rajan also took a host of measures on the liquidity front, starting with the narrowing of policy rate corridor to 0.21 per cent to 7,665.21 per cent to 7,665.10.76 per cent lower at 18,124.10. The barometer had gained over 130 points in the previous session.50 per cent from the earlier 1 percentage point, which resulted in the reverse repo rate -- at which banks can park excess funds with the bank -- being reset at 6 per cent.26 per cent and HDFC Bank 0. Stating that the inflation objectives are closer to being realised and price rise will hover around the 5 per cent mark for the remainder of the fiscal, Rajan reaffirmed that the monetary policy will continue to remain accommodative to address the growth concerns. The 30-share index, which had lost over 125 points in the opening trade, dropped further to quote 322.31 per cent.
The wider NSE index Nifty cracked below the crucial 7,700-mark by plunging 93. The BSE banking index was trading 1.70 points or 1.25 per cent to 6. Among rate sensitive scrips, ICICI Bank topped the list by falling 3.29 per cent, followed by SBI by 2. On similar lines, the BSE Realty index was quoting 1.52 points or 1. Brokers said the RBI's decision to cut repo rate by 0.90.67 points. They added that no change in Cash Reserve Ratio (CRR), too had its bearing.
Market benchmark Sensex fell further after the Reserve Bank cut repo rate of 25 basis points, which was in line with market expectations, and was trading lower by 322 points at 25,077.27 per cent to 25,077..13 soon after RBI announced its first bi-monthly monetary review for 2016-17. The wider National Stock Exchange index Nifty cracked below the crucial 7,700-mark by plunging 93