ECONOMY ANALYSIS:
Nifty ends below 6,000 as banks tank post RBI move
Banks hammered, IT helps Nifty trim losses; YES Bank dn 13%
Hero MotoCorp Q1 net falls 11% to Rs 548 cr on higher tax
FIPB to decide on Jet-Etihad deal's mgmt, control: Sebi
YES Bank Q1 net rises 38.3% to Rs 401cr on other income
Wockhardt plunges after Macquarie downgrades to 'neutral'
MARKET ANALYSIS:
The Nifty closed below the psychological 6,000 mark following a sell-off in banks after the Reserve Bank of India's latest move to tighten liquidity in order to contain excessive speculation and volatility in the foreign exchange market.
The RBI reduced the liquidity adjustment facility (LAF) for each bank from 1 per cent of the total deposits to 0.5 per cent and asked banks to maintain higher average CRR (cash reserve ratio) of 99 per cent of the requirement on daily basis as against earlier 70 per cent.
The 50-share index ended at 5,992.10, down 85.70 points or 1.41 per cent. It touched a high of 6,047.25 and a low of 5,962.60 in trade today.
The Bank Nifty has plunged 519.55 points or 4.62 per cent. All the stocks in CNX Bank Nifty closed in the red.
The S&P BSE Sensex was at 20,116.46, down 185.67 points or 0.91 per cent. It touched a high of 20,252.70 and a low of 19,994.25 in trade today.
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