Real reasons why RBI raised reverse repo rate; Market weakens for lack of followup buying

ET Markets Daily Brief | Thu, Apr 06, 2017 | 04:39 PM IST Follow ET Markets

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RBI drifts from rate focus, targets cash glut, health of banks: Key takeaways The central bank also kept the cash reserve ratio (CRR) unchanged at 4 per cent. However, it raised the reverse repo rate by 25 basis points to 6 per cent. Here's why RBI increased reverse repo rate and lowered MSF in policy review The central bank turned hawkish on inflation this time around. For 2017-18, it projected inflation to average at 4.5 per cent in the first half of the year. Just follow these tips; you won't care if Nifty is at its peak or not Stock selection is fundamental to wealth creation. Proper stock selection will enable creation of wealth irrespective of stock market conditions.

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Market Watch 6 Apr | 04:39PM| SENSEX NIFTY USD/INR GOLD 29927.34 ↓-46.90 9261.95 ↓-3.20 64.63 ↓-0.25 28743.00 ↓-62.00

Gainers Losers 6 Apr, 2017, 04:39PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Competent Automobiles Co Ltd. 228.00 20.00 42196 228.00 190.00 Patspin India Ltd. 22.20 20.00 364798 22.20 18.50 Kirloskar Industries Ltd. 1351.90 20.00 4566 1351.90 1144.00

Tweet of the day... Rate-sensitive stocks mixed as RBI keeps repo rate unchanged at 6.25%

FROM THE NEWSPAPER

BLOG: Look who moved my market all through Thursday At their new peaks, the benchmark indices are looking little uneasy and remain susceptible to profit taking. This market can go either way from here on. Watch this space as we bring you all the action in a live blog from Dalal Street. F&O watch: Market being bought into on every decline, but followup buying missing The index is continuously forming a 'Hanging Man' or a 'Dragon Fly Doji' on the daily chart, which indicates that every decline is being bought into. Divi's Lab, Ramco, Idea among top 25 BSE wealth destroyers of FY17 Select stocks from the BSE500 index rallied up to 288% during the year. At the same time, 82 stocks from this broader market index slipped up to 50%. Has Yellen & Co just rocked the boat in buoyant stock markets? Find out here Dalal Street too opened in the red despite expectations of a status quo on policy rate by the Reserve Bank of India in its policy review later in the day. Bond yields rise by 9 bps after RBI hikes reverse repo rate With the latest liquidity measures the central bank should be able to match its changed policy stance to "neutral" from "accommodative".

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