Nifty 50 Tips

With a few blue chip stocks forcing their way up from the day's lows thanks to modest buying support, the market, which plunged deep down into the red post RBI's monetary policy statement, has regained some lost ground this afternoon.

Bank and realty stocks continue to languish deep down in the red due to sustained selling pressure. Capital goods, PSU, metal and automobile stocks are also mostly trading sharply lower. Oil and FMCG stocks are down as well.

Power and consumer durables stocks have regained a bit of lost ground. Select pharmaceuticals and information technology stocks are trading higher. With several midcap and smallcap stocks trading lower, the market breadth remains weak.

At 20,203.95, more than 150 points off the day's low of 20,051.43, the Sensex is now down 442.69 points or 2.14% from its previous close. The Nifty, which declined to 5932.85, is currently down 133.60 points or 2.18% at 5981.95.

The RBI governon Raghuram Rajan today hiked the repo rate by 25 basis points to 7.5%. The central bank, however, reduced the Marginal Standing Facility (MSF) rate by 75 basis points to 9.5%. The reverse repo rate stands adjusted at 6.5%.

RBI also reduced the minimum daily maintenance of the cash reserve ratio (CRR) from 99% of the requirement to 95% effective from the fortnight beginning September 21, while keeping the CRR unchanged at 4%.

Take Free Trial: Stock Cash Tips and Free Stock Tips

Source:- CapProIn Indore.

Our Blogs:- Stock Cash Tips

Commodity Tips, Intraday Tips, free stock market tips on Mobile, Stock Trading Strategies, stock market trading, stock futures trial tips, stock futures quote, stocks of the future