RBI’s end and stock market enthusiasm, RPO rate became a Sensex -Nifty rocket – Stock Market Zooms Revo Returns 50 Basic Point Sensex Nifty Rise
The Indian Stock Exchange began with a dull start with a dull start on the last trading day of the week, but when the Reserve Bank of India met with the MPC meeting, the Reserve Bank cut repo rate was announced, then the market was increased, then the market was traded in anger, and then the bomb was announced. Sensex with stocks rose to over 700 points.
Reserve Bank’s decision on the market
Both symbols were opened on the stock market in the red zone on Friday. On the one hand, the BSE Sensex began trading at 81,434.24 with a slight decline compared to its previous closed 81,442.04, and the RBI governor announced a 50 pps reduction at the repo rate. The Sensex rose by 710 points to 82,165.
Nifty ran like the Sensex
The Nifty code of the National Stock Exchange attracted the storm speed after the RBI’s announcement of the Sensex. The Nifty opened to 24,748.70 compared to its previous closed 24,750.90, and after the repo rate was announced, it scored 230 points for 24,982.
Repo rupo
Please tell me here that the Repo Rate (RBO Repo Return) has done a big cut in the repo rate. Reserve Bank Governor Sanjay Malhotra, who described the decisions taken at the RBI Monitoring Policy Committee meeting, has been reduced by 50 base points, which has now dropped to 5.50 per cent. The impact of this change in interest rates will be found on customers who take home and vehicle loans from all banks, and their EMI will be reduced. This is the third cut of this year. Earlier in February and April, the Reserve Bank reduced the repo rate by 25-25 base points.
CRR cut, the governor said about the economy
On the stock market, the Reserve Bank’s MPC meeting also visited the impact of some major decisions other than the repo rate reduction. In fact, with a repo rate reduction, the Central Bank has reduced the cash balance rate (CRR) from 4 percent to 3 percent. Reserve Bank Governor Sanjay Malhotra described the decision of the repo rate to support economic growth as a step.
Governor Sanjay Malhotra also said that India is constantly becoming a favorite place for investment. India’s foreign exchange reserves continues to rise, and it has now reached $ 691.5 billion. In addition, the Reserve Bank has reduced the inflation rating from 4 percent to 3.7 per cent in the financial year.
