Markets react positively to monetary policy

Our Bureau Mangaluru | Updated on January 08, 2018

Markets remained in the green even minutes after the Reserve Bank of India (RBI) deciding to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6 per cent in its bi-monthly monetary policy on Wednesday.

The Sensex was up by 244.54 points and Nifty by 75.10 points at 2.45 pm on Wednesday.

The BSE Bankex was at 27,252.14 points, up by 170.14 points, at that time. It had closed at 27,082 points, up by 56.74 points, at the end of the closure of the market on Tuesday.

While major private sector banks such as HDFC Bank, Axis Bank and ICICI Bank remained in the negative category at the time of filing this report, public sector Punjab National Bank (PNB), Bank of Baroda (BoB) and State Bank of India (SBI) remained in the positive territory.

Yield on the 6.79 per cent 10-year benchmark bond maturing in 2027 was up by three basis points at 2.45 pm on Wednesday. It opened at Rs 101.08 with its yield at 6.63 per cent. The yield was at 6.68 per cent at 2.45 pm. However, the benchmark 10-year 6.79 per cent 2027 paper was at Rs 100.98 with yield at 6.65 per cent on Tuesday.

The rupee appreciated by 23 paise after the RBI's monetary policy decision. The rupee, which opened at 65.33 to dollar on Wednesday, was trading at 65.27. It had closed at 65.50 against the dollar on Tuesday.

Published on October 04, 2017

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