Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Markets flat after RBI holds rates
Tue, 1 Apr 11:30 am

After opening firm, the Indian indices are trading flat in the morning session after the Reserve Bank of India (RBI), in its first bi-monthly policy, maintained status quo regarding all key policy rates. The buying interest is highest in software and energy stocks while the selling pressure is highest engineering and banking stocks.

The BSE-Sensex is trading down 30 points and the NSE-Nifty is trading down 10 points. The BSE Mid Cap index is trading down 0.1% and the BSE Small Cap index is trading up 0.2%. The rupee is trading at 59.92 to the US dollar.

The Reserve Bank of India (RBI) has, in its first bi-monthly monetary policy, left all key interest rates unchanged. The benchmark repo rate, at which the RBI lends to banks, remains at 8% while the reverse repo rate remains at 7%. The cash reserve ratio (CRR) was maintained at 4%. Consequently, the marginal standing facility (MSF) rate and the bank rate, both remain unchanged at 9% each. The RBI will henceforth announce its monetary policy every two months.

Most telecom stocks are trading lower today. Tata Communications and Tata Teleservices are leading the losses. As per news reports, the country's largest telecom firm Bharti Airtel is restructuring its landmark outsourcing deal with tech giant IBM. The ten year US$ 2 bn deal which was signed between the two firms in 2004 is up for renewal and Bharti is looking to diversify its IT vendors in order to reduce costs. Indian IT firms Tata Consultancy Services (TCS) and Tech Mahindra are expected to be the likely beneficiaries. IBM is expected to end up with a deal of about US$ 400-500 m in size after the contract is restructured while TCS and Tech Mahindra could pick up a significant part of the remaining portion. Bharti Airtel is trading lower by 1.1% today.

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

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Markets flat after RBI holds rates". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Feb 21, 2018 (Close)