Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Surprise rate cut catapults markets
Wed, 4 Mar 09:30 am

Global markets turned negative as investors expressed concerns over comments by Iranian counterparts over producing nuclear warheads. The major Asian stock markets are trading mixed this morning. While the markets in Japan and Hong Kong are trading in the red with losses of 0.8% and 0.4%, respectively, the stocks markets in China and Taiwan are trading with gains of 0.1% and 0.3%, respectively on back of better than expected economic numbers from China. The rupee was trading at Rs 61.86 to the US dollar.

Indian stock markets have opened in green with the BSE-Sensex trading higher by about 270 points (0.9%)and NSE Nifty is up by 73 points(0.9%).

Crude oil price fell marginally by Rs 9 and is trading at Rs 3,140 per barrel while the precious metals, gold and silver, also are trading in the red with loss of 0.3% and 0.5% respectively. Gold price, per 10 grams, stands at Rs 26,435 while silver price stands at Rs 36,450 per kilogram

Indian stock markets touched record high levels as the RBI decided to slash the repo rates by 25 basis points. Both BSE Sensex and NSE-Nifty gained over 0.9%. BSE Mid Cap and BSE Small Cap indices have also shown marginal gains of 0.01% each. The Reserve Bank of India cut the repo rates by 25 basis points to 7.5% from previous rate of 7.75%. This is the second rate cut by the RBI since January. However, it has kept the Cash Reserve Ratio (CRR) unchanged at 4%. Stock of State Bank of India jumped nearly 4% post rate cut.

Mining stocks have opened on a mixed note with Ashapura Minechem and MMTC Ltd leading the gains. However, NMDC Ltd and Gujarat NRE Coke Ltd were facing selling pressure. The Government has passed the changes to Mines and Minerals Development Regulatory (MMDR) Bill. The Bill seeks to introduce a system of auction in granting prospecting licences. The intention behind passing the MMDR Bill was to ease the way business is done which involves land. As per this Bill the Central Government will become more authoritative than the State Government. This bill will likely benefit the companies which are already involved in mining.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Surprise rate cut catapults markets". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.