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?  

RBI rate cut cheers market
Tue, 29 Sep Closing

After opening today's trading session on a weak note, the Indian equity markets reversed their early losses after the Reserve Bank of India decided to cut the repo rate by 50 basis points and managed to close the session well above the dotted line. The benchmark Sensex today closed the day higher by 162 points while NSE-Nifty closed higher by 48 points. The S&P BSE Midcap index too favored the RBI rate cut and closed higher by 0.4%. On the other hand, S&P BSE Smallcap finished in the red down by 0.2%. Realty and banking stocks were the leading sectoral indices while stocks from healthcare, metal and oil and gas sector closed in red.

Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.43% and the Shanghai Composite rose 0.27%. The Nikkei 225 lost 1.32%. European markets fell for the second day in a row. The rupee was trading at 66.18 against the US$ in the afternoon session.

Buying activity was witnessed across majority of IT sector with Infosys and NIIT India leading the pack of gainers. According to a leading financial daily, Tata Consultancy Services (TCS) has entered into a new partnership with Nationwide Building Society in the UK for the provision of the ignio neural automation system which will initially be used for batch performance and capacity management. Nationwide, a long-standing TCS customer, selected TCS' Services-as-Software platform ignio – the world's first neural automation system for enterprise IT, as part of its continued transformation of its technology and operations.

Reliance Industries, one of the biggest private sector companies in India, is reportedly planning to raise US$ 1.5 bn through external commercial borrowings (ECB) to refinance its old loans. The company will raise the loan in two tranches - US$ 1.36 bn in American dollars and US$ 140 million in Japanese yen. The maturity of the bonds would be 43 months from the date of issue. Recently, the company had raised US$ 225 million through 10-year bonds. The notes have been issued at par and will bear a fixed interest rate of 2.512% per annum with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the company.

PS: Wouldn't it be great to have all the important investing principles culled out and put together in the form of an easy to understand guide? Well, the good news is we have done just that in the form of a guide called 'The 7 Secrets of a Shrewd Value Investor'. Download your free copy here.

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 "RBI rate cut cheers market". 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.