LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

RBI Monetary Policy impact: Sensex drops over 300 pts, Nifty below 100 pts on status quo; policy repo rate stands at 6.50%

After dropping by over 300 points within few minutes of RBI policy announcement, the Sensex was trading at 35,880.51 down by 254 points or 0.70%, whereas the Nifty was trading at 10,773.95 below 95.55 points or 0.88% at around 1442 hours.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
RBI Monetary Policy impact: Sensex drops over 300 pts, Nifty below 100 pts on status quo; policy repo rate stands at 6.50%
Representational Image: Photo: Reuters
Written By: ZeeBiz WebTeam
Updated: Wed, Dec 05, 2018
03:07 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details
Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do
Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts
#OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps #OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps
HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements

The benchmark indices Sensex and Nifty both reacted in a massively negative manner after the Reserve Bank of India (RBI) decided to maintain status quo in December policy. After dropping by over 300 points within few minutes of RBI policy announcement, the Sensex was trading at 35,880.51 down by 254 points or 0.70%, whereas the Nifty was trading at 10,773.95 below 95.55 points or 0.88% at around 1442 hours. The Nifty has plunged by over 100 points within seconds of RBI policy. 

There were barely any gainers on Sensex with Hindustan Unilever trading at Rs 1840.70 per piece up by 1.79% and HDFC at Rs 1962.70 per piece above 1.21%.

Other companies like HDFC Bank, Adani Ports, Asian Paints and Reliance Industries made a gradual increase ranging between 0.04% to 0.30%. 

Meanwhile, losers list had a long line of companies with Sun Pharma taking top spot by plunging nearly 6% trading at Rs 417.50 per piece. Sun Pharma was followed by Vedanta at Rs 198.35 per piece below 3.78%, Tata Motors at Rs 169.70 per piece below 3.41%, Tata Steel at Rs 169.70 per piece down 3.15% and Mahindra & Mahindra at Rs 719.10 below 3.13%. 

As expected the Reserve Bank of India today decided to keep policy  repo rate unchanged at 6.50%. Consequently, the reverse repo rate under the LAF remains at 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

The decision of the MPC is consistent with the stance of calibrated tightening of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth. The main considerations underlying the decision are set out in the statement below.

RBI is an inflation trajectory cbank, and every policy stance revolves around the performance of Consumer Price Index (CPI) or retail inflation, which in latest month has softened. Retail Inflation in October 2018 month came in at 3.3% lower compared to 3.8% in September 2018 and 3.6% a year ago same month. Lower inflation was an outcome of food inflation which continued to decline largely led by sharp contraction in pulses, vegetables and fruits, fuel inflation continued to rise, tracking international oil prices.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
RBIRBI Monetary policySensexNiftyIndian markets
RELATED NEWS
RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details
Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do
Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts
#OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps #OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps
HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements

LATEST NEWS

IndiGo's select flights from Mumbai Airport from March 10

REVEALED! This is the most preferred financial product to protect family post-COVID 19 pandemic

Centre finalises One District One Focus Product to promote in cluster approach

Sovereign Gold Bonds 2020-21 scheme: Check opening, closing dates and rates

Apple, Croma join hands on Steve Jobs' birth anniversary

Mann Ki Baat Latest Episode: What all PM Narendra Modi said in his popular radio programme today - Know here

Successful! Indian rocket PSLV puts Brazil's Amazonia-1 satellite into orbit

Websites of traditional media houses to come under the ambit of section 69(A) of IT Act: Report

New Inbase smartwatch Urban LYF is here - Check features, offers, promo code and more

Historic moment! New era of space reforms in India! PM Narendra Modi hails 1st dedicated commercial launch of PSLV-C51/Amazonia-1 Mission

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved