Today i.e. on 8th April, RBI announced the first monetary policy for the financial year 2022. RBI Governor Shaktikanta Das did not change the repo rate while announcing the monetary policy. The Reserve Bank of India (RBI) MPC has unanimously kept the repo rate unchanged at 4 percent. After this, the Indian stock markets slipped into the red mark. However, at this time they are seen coming back to the green mark Huh.
The MPC unanimously voted to keep the repo rate unchanged at 4 per cent. The MPC also voted unanimously to keep the stance liberal. RBI has kept the Liquidity Adjustment Facility (LAF) corridor at 50 bps as it was before Covid. RBI Governor Shaktikanta Das said the MSF rate and the bank rate remain unchanged at 4.25%.
Today at 10:22 am Sensex was trading down 106.89 points or 0.18% at 58928.06 and Nifty was down 20.70 points or 0.12% at 17618.80.
HDFC sold 3% stake in Bandhan Bank through block deal, know share price
Reserve Bank of India Governor Shaktikanta Das on April 8 announced the first monetary policy of the new financial year after a two-day review amid concerns over inflation due to rise in crude oil and other commodity prices.
This week’s announcement of monetary policy assumes significance after the RBI announced in March 2020 after COVID-19 engulfed India, impacting global growth.
Rate-sensitive sectors including banks, auto and realty appeared in the green after RBI’s policy and each saw an increase of half a percent.
However, after the announcement of the policy, pressure was seen on S&P BSE Bankex. Bandhan Bank jumped 3 percent after a block deal of about 4.97 crore shares seen in early trade. Bloomberg reported that shares of Bandhan Bank Limited saw a block deal on Friday with about 4.97 crore shares or 3 percent stake.
After the policy, Federal Bank, AU Small Finance Bank, IndusInd Bank and Bank of Baroda (Federal Bank, AU Small Finance Bank, IndusInd Bank and Bank of Baroda) saw a rise. Each of these showed an increase of 0.5-1 percent.
On the other hand the auto index was trading flat. This included TVS Motor, Ashok Leyland and Tata Motors (TVS Motor, Ashok Leyland and Tata Motors). On the other hand Escorts, Mahindra & Mahindra, Eicher Motors, Bajaj Auto and Hero MotoCorp (Escorts, Mahindra & Mahindra, Eicher Motors, Bajaj Auto and Hero MotoCorp) saw pressure and all these stocks are trading in the red mark.
Buzzing Stocks: Rate-sensitive stocks, Infosys, NTPC and other stocks in headlines today
From the realty sector, Prestige Estates saw a rise of 2 percent. While Brigade Enterprises, Lodha Estates, Phoenix Mills and Shobha (Brigade Enterprises, Lodha Estates, Phoenix Mills and Sobha) are also trading in the positive territory. On the other hand, Oberoi Realty, Indiabulls Real Estate, Godrej Properties and DLF (Oberoi Realty, Indiabulls Real Estate, Godrej Properties and DLF) are trading under pressure.
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