ITC slips 2%; Maharashtra bans sale of loose cigarettes The market has fallen sharply after RBI has kept cash reserve ratio (CRR) unchanged. Consequently, the reverse repo rate moves lower to 6.25 percent. Hero, HDFC, ITC, Tata Power and SBI are major laggards in the Sensex. Among the gainers are Bharti Airtel and TCS. Meanwhile, crude oil dipped on expectations that OPEC would not cut output at its meeting this week, but firm refinery demand curbed price losses. Front-month Brent crude futures had fallen 10 cents to USD 64.78 per barrel by 0227 GMT on Tuesday, while US crude was down 5 cents at USD 60.15 a barrel. Those slight declines extended a 1-percent drop from the previous session.
The RBI has reduced the repo rate by 25 bps to 7.25% and kept the CRR unchanged at 4%.
Shares of rate-sensitive sectors with banks emerging as the top losers after the Reserve Bank of India at its monetary policy review today signalled that it would await data on monsoon forecast and track inflation before any further rate cuts.
BSE Bankex has slipped over 1%. Auto and Realty sectors are also witnessing selling pressure. Bank Nifty has dropped around 2% at 18,428 levels.
From the financial space, HDFC, SBI, HDFC Bank, Axis Bank and ICICI Bank have plunged between 0.6-2.2%.
Among Realty pack, Prestige Estates, Indiabulls Real, Godrej Properties, Sobha Developers, Unitech and DLF have slipped between 1-2%
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave liable on linke din and facebook. Get real time advice for Share Tips , Trading Strategies , Best Intraday Stocks , Stock Tips Free and all market updates. For 2 Days Free Trial ,Please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
The RBI has reduced the repo rate by 25 bps to 7.25% and kept the CRR unchanged at 4%.
Shares of rate-sensitive sectors with banks emerging as the top losers after the Reserve Bank of India at its monetary policy review today signalled that it would await data on monsoon forecast and track inflation before any further rate cuts.
BSE Bankex has slipped over 1%. Auto and Realty sectors are also witnessing selling pressure. Bank Nifty has dropped around 2% at 18,428 levels.
From the financial space, HDFC, SBI, HDFC Bank, Axis Bank and ICICI Bank have plunged between 0.6-2.2%.
Among Realty pack, Prestige Estates, Indiabulls Real, Godrej Properties, Sobha Developers, Unitech and DLF have slipped between 1-2%
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave liable on linke din and facebook. Get real time advice for Share Tips , Trading Strategies , Best Intraday Stocks , Stock Tips Free and all market updates. For 2 Days Free Trial ,Please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
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