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Sensex Trades Rangebound; RBI Cuts Repo Rate
Thu, 7 Feb 12:30 pm | Rini Mehta, TM Team

Stock markets in India are presently trading flat. The BSE Sensex is trading higher by 31 points and the NSE Nifty is trading higher by 3 points. Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading up by 0.7%.

Among the sectoral indices, healthcare stocks and telecom stocks are witnessing buying interest. While, metal stocks and energy stocks are trading in red.

The rupee is trading at 71.58 to the US$.

In the latest development, the Reserve Bank of India has cut the repo rate by 25 basis points in its sixth bi-monthly monetary policy statement for 2018-19.

RBI reduces the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5% to 6.25% with immediate effect.

The three-day policy review meeting by the Monetary Policy Committee (MPC) began in Mumbai on Tuesday.

The MPC is headed by RBI Governor Shaktikanta Das. In its last bi-monthly monetary policy, the bank had kept the repo rate unchanged at 6.5% and the reverse repo rate at 6.25.

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Note that, any hike in the repo rate increases the lending rate in the banks, and vice versa.

RBI has also changed the stance of the monetary policy to 'neutral' from 'calibrated tightening' as inflation being lower than its target for 5 consecutive months.

Actual Inflation has Stayed Below the RBI's Target

Note that, several events have happened in the past few months with inflation reaching a record low and persistent liquidity deficit which are witnessed in the banking system which was supported by the RBI.

Real interest rates in India are among the highest in Asia and calls for the first cut in the policy rate since August 2017 have been growing.

Moving on to the news from IPO space. Chalet Hotels debuted at Rs 291 on the BSE, up by Rs 11 or 3.9% from its issue price of Rs 280.

It touched a high and low of Rs 294 and Rs 250 respectively. So far 4,36,000 shares were traded on the counter.

The offering, which was open for subscription between 29 January 2019 and 31 January 2019, was subscribed 1.02 times. The issue price was fixed at Rs 280 per share i.e. at upper end of price band of Rs 275-280 apiece.

Chalet Hotels is an owner, developer and asset manager of high-end hotels in key metro cities in India. Its hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of 31 March 2018.

The company generally develops its hotels in strategic, high density locations on large land parcels, allowing it to situate a greater number of rooms, as well as provide a wide range of amenities, such as, fine dining and specialty restaurants, large banquet and outdoor spaces.

The company's hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments.

To know our view on the IPO of Chalet Hotels Ltd, you can read our entire IPO analysis here (subscription required).

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Stock Market Updates

SJVN Plunges by 5%; BSE POWER Index Down 0.6% (Today's Market)

Apr 25, 2019 03:32 PM

SJVN share price has plunged by 5% and its current market price is Rs 24. The BSE POWER is down by 0.6%. The top gainers in the BSE POWER Index are CG POWER & INDUSTRIAL (up 3.7%) and SIEMENS (up 1.1%). The top losers is SJVN (down 5.1%)..

SADBHAV ENGINEERING Surges by 6%; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Apr 25, 2019 01:08 PM

SADBHAV ENGINEERING share price has surged by 6% and its current market price is Rs 240. The BSE CAPITAL GOODS is up by 0.3%. The top gainers in the BSE CAPITAL GOODS Index is SADBHAV ENGINEERING (up 5.5%). The top losers are SKF INDIA (down 0.1%) and BHEL (down 0.1%).

Sensex Trades Higher; Ultratech Cement Surges on Strong Q4 Result (Today's Market)

Apr 25, 2019 12:30 pm

The BSE Sensex is trading up by 151 points, while the NSE Nifty is trading up by 56 points.

BHARTI INFRATEL Plunges by 5%; BSE 500 Index Up 0.4% (Today's Market)

Apr 25, 2019 12:14 PM

BHARTI INFRATEL share price has plunged by 5% and its current market price is Rs 298. The BSE 500 is up by 0.4%. The top gainers in the BSE 500 Index are INDIABULLS REAL EST (up 6.9%) and GRASIM (up 6.5%). The top losers is BHARTI INFRATEL (down 5.2%)..

RELIANCE INFRA Surges by 5%; BSE POWER Index Up 0.7% (Today's Market)

Apr 25, 2019 11:08 AM

RELIANCE INFRA share price has surged by 5% and its current market price is Rs 127. The BSE POWER is up by 0.7%. The top gainers in the BSE POWER Index is RELIANCE INFRA (up 5.0%). The top losers are SIEMENS (down 0.1%) and JSW ENERGY (down 0.1%).

INDIABULLS REAL EST Surges by 5%; BSE REALTY Index Up 0.5% (Today's Market)

Apr 25, 2019 10:26 AM

INDIABULLS REAL EST share price has surged by 5% and its current market price is Rs 122. The BSE REALTY is up by 0.5%. The top gainers in the BSE REALTY Index is INDIABULLS REAL EST (up 5.2%). The top losers are PHOENIX MILL and DLF (down 0.3%).

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