RBI Credit Policy | RBI First Quarter Review of Monetary Credit Policy 2010

RBI Credit Policy | RBI First Quarter Review of Monetary Credit Policy 2010

At 11:45 pm IST – by their own criteria responded positively to the RBI in the credit policy, but with a slight profit. It seems that the markets have already discounted a hike in key rates. Reserve Bank of India (RBI) raised the repo rate by 25 bps to 5,75% from the current 5.5% and increased the reverse repo by 50 bps to 4,5% from the current 4%.

The ratio of cash reserves was kept unchanged at 6%. RBI has increased the GDP growth forecast to 8,5% to 8% and the forecast inflation rate to 6% from 5.5%.
While responding to a sharp increase in rates of ICICI Pru says, RBI tries to normalize policy rates and controls the inflation and economic growth. He does not see a change in interest rate on deposits in the year.

Sensex was at 18082, which for 62 points and Nifty was at 5434, up 15 points. Nifty Future July was trading at 9 points premium and August next at 17 points premium.

Shares of oil and gas, machinery, automobiles, cement, banking and financial companies and the metal support markets. Nevertheless, sales remained in the L and T, NTPC, BHEL, Bharti, GAIL, Jindal steel bearing Powers, Axis Bank, Unitech and Reliance Communications.

JSW Steel, SBI, Bharti Airtel, L and T, “ICICI Bank and Maruti Suzuki were the most active shares on stock exchanges.

In midcap space, MVL, ING Bank Vysya, Godrej Properties Manappuram and Apollo Hospitals have increased by 3-7%, while Mahindra Holiday, optoelectronic circuits, Clariant, Jubilant Org and Bajaj Electrical lost 2-6%.

In the smallcap space, Dolphin Offshore, Shirpure Gold, Honda Siel, Action Construction and REI Six Ten were 5-13.5%, whereas Gulf Oil Corp, LGS at the global, Intra Infotech, Century “Enka and Maharashtra Polybutenes fell 5-13 %.


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