SMEs, banks, foreign exchange, markets, forex, small and medium price industries,

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		Markets ended lower on Friday after the Reserve Bank of India (RBI) sprung a surprise and kept the repo rate unchanged at 6.50 per cent. Most experts had expected the central bank to hike rates by 25 bps.&nbsp;</div>
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			The S&P BSE Sensex lost 792 points, or 2.25 per cent, to settle at 34,377 while the broader NSE&#39;s Nifty50 index dropped 283 points, or 2.7 per cent, to close at 10,316.&nbsp;Among specific stocks, shares of oil marketing companies such as HPCL, BPCL and IOCL hit 52-week lows after the government announced that it will cut excise duties on petrol and diesel prices and OMCs will absorb Re 1 per litre.<br />
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			Heavy losses were also visible in banking stocks with the Nifty Bank index slipping 1.5 per cent. YES Bank, State Bank of India (SBI), Bank of Baroda (BoB), IDFC Bank and ICICI Bank lost up to 5.1 per cent.</div>
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		<strong>RBI policy</strong><br />
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			Earlier, the monetary policy committee (MPC) of the Reserve Bank on Friday kept the repo rate unchanged at 6.50 per cent in its fourth bi-monthly monetary policy review of 2018-19. The central bank changed the policy stance to &#39;Calibrated tightening&#39; from &#39;Neutral&#39;. Calibrated tightening means rate will be maintained or hiked in this cycle.</div>
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			Rate sensitive stocks took deep cuts despite RBI&#39;s status quo. The Nifty PSU Bank index dropped 4.4 per cent to settle at 2,656 levels, while Nifty Auto index tumbled nearly 3.2 per cent. Nifty Realty, too, slipped 3 per cent. Volatility benchmark, India VIX, advanced 7 per cent.</div>
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		<strong>Rupee hits 74.22/$</strong></div>
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		The Indian rupee Friday crashed below the 74-level against the US dollar for the first time ever after the Reserve Bank kept its key policy rate unchanged. The domestic currency was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy.&nbsp;</div>
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		Investors remained concerned over sustained foreign capital outflows and fears of widening current account deficit in the wake of soaring crude oil prices. <a href="https://www.business-standard.com/article/markets/rupee-hits-new-low-of-74-13-against-dollar-on-rbi-monetary-policy-surprise-118100500588_1.html" target="_blank"><strong>READ MORE HERE</strong></a></div>
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	<strong>Global markets</strong></div>
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	Asian shares were mostly fragile on Friday after benchmark US Treasury yields surged to a seven-year high and strong economic data fanned concerns about inflation and the risk of faster-than-expected interest rate hikes. MSCI&#39;s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, while Japan&#39;s Nikkei dropped 0.5 per cent.</div>

MARKET WRAP: Sensex tumbles 792 pts; RBI holds rates; rupee hits 74.22/$

Business Standard

MARKET WRAP: Sensex tumbles 792 pts; RBI holds rates; rupee hits 74.22/$ | News on Markets - Business Standard

<strong>NEWS ALERT</strong><br />
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	Rupee depreciation has been moderate comapred to EM peers: Urjit Patel</div>

<strong>NEWS ALERT</strong><br />
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Outlook for food inflation is expected to remain benign: Urjit Patel

<strong>NEWS ALERT</strong><br />
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See headwinds from oil price rise amid supply-side disruptions: Urjit Patel

<strong>NEWS ALERT</strong><br />
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Global trade losing ground due to tariff wars: Urjit Patel

<strong>NEWS ALERT</strong><br />
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Risks emerging from Fed tightening, escalating tariff wars: RBI Guv Urjit Patel

Nifty Realty after RBI policy outcome<br />
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<strong>NEWS ALERT</strong><br />
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Rupee hits 74/dollar for the first time

<strong style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 11px;"><span style="font-size: 14px;"><span style="color: rgb(128, 0, 0);">RBI&#39;s MONETARY POLICY ON INFLATION</span></span></strong><br />
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While the projections of inflation for 2018-19 and Q1:2019-20 have been revised downwards from the August resolution, its trajectory is projected to rise above the August 2018 print. The outlook is clouded with several uncertainties

<strong style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 11px;"><span style="font-size: 14px;"><span style="color: rgb(128, 0, 0);">RBI&#39;s MONETARY POLICY</span></span></strong><br />
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Regarding the policy repo rate, Dr. Pami Dua, Dr. Ravindra H. Dholakia, Dr. Michael Debabrata Patra, Dr. Viral V. Acharya and Dr. Urjit R. Patel voted in favour of keeping the policy repo rate unchanged. Dr. Chetan Ghate voted for an increase in the policy rate by 25 bps.

<strong style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 11px;"><span style="font-size: 14px;"><span style="color: rgb(128, 0, 0);">RBI&#39;s MONETARY POLICY</span></span></strong><br />
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<strong><span style="font-size:14px;"><span style="color:#800000;">RBI&#39;s MONETARY POLICY</span></span></strong><br />
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Based on an overall assessment, GDP growth projection for 2018-19 is retained at 7.4 per cent as in the August resolution (7.4 per cent in Q2 and 7.1-7.3 per cent in H2), with risks broadly balanced; the path in the August resolution was 7.5 per cent in Q2:2018-19 and 7.3-7.4 per cent in H2. GDP growth for Q1:2019-20 is now projected marginally lower at 7.4 per cent as against 7.5 per cent in the August resolution, mainly due to the strong base effect

<strong>Sectoral Trend on NSE</strong><br />
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<span style="font-size:14px;"><span style="color:#800000;"><strong>RBI MONETARY POLICY</strong></span></span><br />
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MPC keeps the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent.&nbsp;Consequently, the reverse repo rate under the LAF remains at 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent

MARKET WRAP: Sensex tumbles 792 pts; RBI holds rates; rupee hits 74.22/$

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