MARKET WRAP: Sensex slips 71 pts as RBI holds repo rate; financials decline

All that happened in the markets today

1:12 PM

MARKET CHECK | India VIX jumps nearly 10%

1:07 PM

Nov Auto Sales | Force Motors

-- Total sales come in 42% higher at 2,112 units in November vs 1,489 units in Nov '18

1:05 PM

NEWS ALERT | As a regulator, RBI's role starts & ends with referring an NBFC to the NCLT: Shaktikanta Das, RBI guv

12:52 PM

Brokerage views: RBI keeps rates steady, cuts GDP growth estimates

"Today’s status quo on repo rates came as a surprise as consensus was for a 25 bps rate cut. However RBI continues with its accommodative stance given its outlook for moderation in inflation below 4 per cent by H1 FY21. The concerns on relatively higher inflation (4.7-5.1 per cent) expected in the near term has led to the pause in rate cuts," said Arun Kumar, head of research at FundsIndia. 

12:43 PM

NEWS ALERT | Won't hesitate to prevent collapse of any large NBFC: Shaktikanta Das

-- Have a fairly good idea as to which NBFCs are vulnerable

-- Top 50 NBFCs are being regularly monitored

12:39 PM

Expert Comment :: Deepthi Mary Mathew, Economist at Geojit Financial Services on RBI policy decision

It was an unexpected move with the RBI keeping the repo rate unchanged at 5.15 percent, as the market expected 25 bps cut in repo rate. With the RBI following a inflation targeting regime, the Central Bank focused on maintaining the inflation rate within the target range The rising food inflation posed a challenge to the Central Bank in cutting the rates. However, by maintaining the accommodative stance, there is room for rate cuts in the future.

12:35 PM

Market check | Sensex back in the green

12:34 PM

RUPEE CHECK

12:30 PM

NEWS ALERT | RBI, govt working in coordinated manner to revive the economy: Shaktikanta Das

-- Revival of growth is a national issue

12:29 PM

NEWS ALERT | Timing of rate cut is important, it's impact needs to be optimized: Shaktikanta Das

12:27 PM

NEWS ALERT | Hike in telecom tariff to impact core inflation: Shaktikanta Das

12:26 PM

NEWS ALERT | Not worried, but need to have more clarity on fiscal measures to be taken: Shaktikanta Das

12:25 PM

MARKET CHECK

12:25 PM

NEWS ALERT | Have seen green shoots in growth, but too early to have a view: Shaktikanta Das

12:22 PM

RBI surprise: Repo rate left unchanged; FY20 GDP forecast lowered to 5%

Springing a surprise, the monetary policy committee of the Reserve Bank of India (RBI) maintained the repo rate at 5.15 per cent points (bps) in its fifth bi-monthly monetary policy meeting of the financial year 2019-20 (FY20) on Thursday. The three-day rate-setting meet started on Tuesday (December 3). In its October meet, the RBI had cut interest rate by 25 bps to 5.15 per cent.

 

Repo rate is the rate at which the RBI lends money to commercial banks, in case of any shortfall of funds. Consequently, the reverse repo rate stands unchanged at 4.90 per cent READ MORE

Reserve Bank of India Governor Shaktikanta Das