Saturday, September 7, 2024
News

Indian stocks steady after RBI policy on expected lines

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | June 9, 2023 10:38:29 AM IST
Indian stock indices traded near flatline on Friday morning as market participants had already discounted the RBI's monetary policy announcements.

Benchmark Sensex and Nifty were trading in a range of (-)0.1-(+)0.1 when writing this report.

Britania, Titan, Asian Paints, IndusInd Bank, and L&T were the top five gainers at the NSE, while HDFC Life, Tata Steel, ONGC, M&M, and Kotak Mahindra Bank were the top losers.

Overall Indian stocks have been buoyant over the past fortnight or so due to the continued inflow of foreign investments, relatively lower crude oil prices, more than estimated GDP numbers, and a consistent decline in inflation.

The key highlights from the three-day RBI monetary policy review meeting were the unchanged repo rate, lowering of inflation projection, and retention of previously forecasted GDP numbers for 2023-24.

RBI lowered India's inflation projection for 2023-24 to 5.1 per cent against its April estimate of 5.2 per cent.

On a quarterly basis, retail inflation (or Consumer Price Index) in Q1 is seen at 4.6 per cent, Q2 at 5.2 per cent, Q3 at 5.4 per cent, and Q4 at 5.2 per cent, RBI Governor Shaktikanta Das said Thursday while reading out the monetary policy statement after a three-day deliberation. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
FEF and Dharmatic Entertainment Collabor...
Pay Point India Network Pvt. Ltd. Recogn...
IYDF Joins Forces with Rambo Event Manag...
RBI imposes penalties on three housing f...
India's Leading Freight Forwarding Compa...
India's exports to Kuwait surged by 34.7...
More...
 
INDIA WORLD ASIA
'Till there is no peace, no talks with P...
Haryana polls: JJP candidate from Dabwal...
MP: Two coaches of Indore-Jabalpur Overn...
Manipur: One person killed, six injured ...
Uttarakhand: Debris cleared, Badrinath H...
IndiGo issues apology after flyers exper...
More...    
 
 Top Stories
DPL 2024: Rishabh Pant sends heartf... 
Wish all women in country live free... 
"Sheesh Mahal in Shalimar Bagh to b... 
Sonu Sood calls for eco-friendly Ga... 
Centre discharges Puja Khedkar from... 
BJP MP Jyotiramay Mahato asks J P N... 
UP: One dead, 15 rescued and severa... 
Rahul Gandhi can roam around Kashmi...