Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
Slowdown in industrial production notwithstanding, a marginal increase in inflation raised the clamour for another round of rate cut by the Reserve Bank on April 4 to boost economic activity.
By no means do economists see the Reserve Bank of India stop at just a 25-bp cut. Some of the economists such as Soumyakanti Ghosh of State Bank of India are of the firm view that rates have room to fall by a total of 75 bps in the current financial year, starting with 25 bps in the August 7 policy.
Costlier vegetables slowly pushed retail inflation, which had remained well within the Reserve Bank's comfortable level of 4 per cent during most part of 2019, peaked to more than three-year high of 5.54 per cent in November.
Heavy dollar selling by banks and exporters alongside debt-related inflows largely supported the rupee
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
The Nikkei India Services Purchasing Managers' Index, which tracks the services sector firms on a monthly basis, stood at 50.3 in February, up from 48.7 registered in January.
Fitch said the full implications of Patel's resignation will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
Invest in liquid funds if you have a horizon of three months, ultra-short-term for six months, and low-duration funds for one year.
Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to cut rates last week surprised even top officials.
RBI lowered economic growth for the current fiscal to 6.9 per cent from the previously projected 7.1 per cent, but saw it bouncing back in a big way to 7.4 per cent in 2017-18.
Rajan said that even though inflation has breached the 6 per cent mark as against the RBI target of getting it down to 5 per cent by March 2017, the price rise scenario will ebb in future
Bank Nifty pared all its intraday gains to end over 1% lower led by losses in BoB, ICICI Bank, Axis Bank and Bank of India
'Election years tend to see high government expenditure on unproductive schemes, though that money sloshing around can boost private consumption.' 'Again, it can mean higher inflation,' explains Devangshu Datta.
'There will be no serious effect on Indian economy because one person, one man, however powerful, however influential, however great, cannot have an impact on an economy as big and complex as India.'
After facing a debacle in four states, Congress on Monday received some cheer in Mizoram, where it stormed back to power for a second consecutive term, capturing 22 of the 40 seats, while leading in four.
The first task before him is to get used to the idea of working with the Monetary Policy Committee
Raghuram Rajan said a six-member monetary policy committee will decide on interest rates.
There is a narrow chance that the central bank may cut rates in the future, according to a poll of 15 economists and treasurers.
The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
The country must get its act on global alliances right in order to feed its fuel-hungry economy, points out Subhomoy Bhattacharjee.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
Balance is needed in selecting members for the proposed monetary policy committee, says Abheek Barua.
Interest rate sensitive stocks gain ground post decision
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
For existing investors, it may be prudent to redeem their current investments in gilt or dynamic schemes and invest it in short-term funds, if the exit load is not very high, advises Malhar Majumder.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
The monetary authority said it was worried on three fronts with regard to inflation as well as the economy.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
In case the repo rate keeps trending downwards, borrowers can expect a downward revision of their MCLR-linked loans.
RBI is expected to discuss about the impact of GST in its monetary policy.
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
Will RBI chief have the final say, in the form of a veto
Rajan tells RBI colleagues he will be returning to academics
Raghuram Rajan speaks on the unscheduled rate cut.
