Benchmark rate for new loans to be lower by 80-90 bps from Friday; move could increase competition but hit commercial papers.
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
SBI remains a favourite of most brokerages in the PSB segment.
The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
NSE Nifty, after shuttling between 10,809.60 and 10,725.90, finished 30.95 points, or 0.29 per cent lower at 10,741.10.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Economists have said if a stimulus is needed it should be different from what was provided in 2008-09, when the economy faced the ripple effects of a global meltdown following the Lehman Brothers collapse.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The Nifty had hit its third successive record high of 7,922.70 today.
The 30-share Sensex ended up 33 points at 27,241.78 and the 50-share Nifty ended up 27 points at 8,200.70.
MC Mary Kom pulled no punches as the celebrated Indian boxer announced her intention to stretch her career by another "three-four" years and while the 2018 Asian and Commonwealth Games remain her "main focus", Tokyo Olympics, she said, is also not out of the radar yet. The London Olympics medallist and five-time world champion recently decided to go back to the light flyweight (48kg division) amid speculation that it is among the two categories that the International Boxing Association (AIBA) is pushing for inclusion in the 2020 Tokyo Olympics. The 33-year, a mother of three, is back in the ring with renewed hopes.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
The banking, oil and metal sectors were the top sectoral losers on the BSE, while IT stocks rendered support at lower levels.
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Bankers remained ambivalent on the impact of Tuesday's policy announcement by Reserve Bank on the cost of funds and refrained from giving a guidance on the direction in which lending rates are headed.
The Reserve Bank of India cut its repo rate by 25 basis points to 6.50 per cent.
When big offers hit the market, broader indices corrected 2-4%
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Sesnsex ended the day flat on heavy selling pressure.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
'At this time, staying in the game is more important.' 'If we do that, then wealth can be generated.'
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
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Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
Against all odds, the young and determined Varun Sharma has taken up the responsibility to bring electricity, education and empowerment to a remote tribal village in Odisha, says Manu A B.
European Investment Bank to set up office in India.
Deutsche Bank India CEO has grand plans for the region.
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
The railways, the country's largest employer, will be hiring 127,000 people in 2018-2019, for which 23.7 million are competing.
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 per cent, while other banks including market leader SBI have indicated that they would follow suit.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Sanjay Kumar Singh tells you what to watch out for when buying insurance and investing in MFs online.
