MARKETS ON THURSDAY: Sensex up 578 pts; RBI holds rates; inflation outlook cut

All that happened in the markets today

2:54 PM

RBI Policy Decision

2:53 PM

RBI Policy Decision

Urjit Patel: External demand may get affected if crude prices remain high

2:52 PM

COMMENT ON RBI POLICY Ramesh Nair, CEO and Country Head, JLL India

For the real estate sector, which has aligned to the government’s ambitions, was looking for some encouragement that would move the needle towards accelerated growth. The apex bank could have directed the lenders to keep the MCLR below 10% or put a cap on the same for home loans. Currently it is observed the MCLRs are higher by 10% - 12% in most leading retail lending banks. This could have brought down the effective lending rate for home loans.  Already by linking MCLR to lending rate changing the earlier base rate has made the cost of borrowing home loans higher in the short term.

 

Residential sales across key markets of India in 2016 – 17 where only marginally higher by approximately 5% than new launches in the same period. A rate REPO rate revision leading to lower home loan rates could have given sentimental boost to end user buyers.

2:45 PM

RBI Policy Decision

Crude oil price seen at $68 per barrel in FY19

2:45 PM

RBI Policy Decision

Monsoon expected to be "normal" in 2018

2:45 PM

RBI POLICY STATEMENT

GDP growth is projected to strengthen from 6.6 per cent in 2017-18 to 7.4 per cent in 2018-19 – in the range of 7.3-7.4 per cent in H1 and 7.3-7.6 per cent in H2 – with risks evenly balanced

(Image source: RBI policy statement)

2:43 PM

RBI Policy Decision

Report on digital currency from RBI by June-end

2:42 PM

RBI Policy Decision

RBI to fix big working capital loan minimum loan component

2:40 PM

RBI Policy Decision

MPC votes 5-1 in favour of status quo.  MPC's Patra voted for 25 bps hike

2:39 PM

Market Check

2:39 PM

RBI POLICY IMPACT Nifty Bank up 1.7% on RBI Policy decision

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)	VOLUME
ICICI BANK	276.80	268.65	8.15	3.03	20000841
BANK OF BARODA	143.95	139.90	4.05	2.89	12972409
ST BK OF INDIA	253.45	247.30	6.15	2.49	11928743
KOTAK MAH. BANK	1100.00	1078.30	21.70	2.01	1058624
IDFC BANK	49.10	48.25	0.85	1.76	4776024

2:38 PM

RBI Policy Decision

RBI sees real GDP growth at 7.4% in FY19 vs. 6.6% in FY18

2:37 PM

RBI Policy Statement

Projected CPI inflation for 2018-19 is revised to 4.7-5.1 per cent in H1:2018-19 and 4.4 per cent in H2, including the HRA impact for central government employees, with risks tilted to the upside (Chart 1). Excluding the impact of HRA revisions, CPI inflation is projected at 4.4-4.7 per cent in H1:2018-19 and 4.4 per cent in H2

2:36 PM

RBI Policy Decision

RBI keeps Reverse Repo Rate unchanged at 5.75% in the first policy of FY19

2:35 PM

RBI Policy Statement

For Q4, high frequency indicators point to a further strengthening of demand conditions. Private consumption seems to be improving on the back of strong growth in domestic air passenger traffic and foreign tourist arrivals, rising sales growth of passenger vehicles and a strong upturn in the production of consumer durables. The growth in sales of two-wheelers and tractors reflects buoyant rural consumption