RBI cuts Repo Rate; Joy in the market: Benchmark share indices surged over 1.5% in opening trade led by financials after the Reserve Bank of India in a surprise move cut the repo rate by 25 basis points. The move, which had been widely anticipated by economists, comes after WPI inflation for December came in at 0.11%, marginally higher than the flat inflation logged in November.
At 9:45 AM, the S&P BSE Sensex was trading at 27805 up 458 points, while NSE Nifty was trading at 8415 up 138 points. However, the Mid-cap and Small-cap Index, both, is underperforming the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee has gained further ground. It has opened higher by 43 paise at 61.75 per dollar versus 62.18. US markets saw a decline for the fourth straight day as December retail sales failed to meet expectations. The US 10-year treasury yield fell 6 basis points to 1.84 percent.
At 9:45 AM, the S&P BSE Sensex was trading at 27805 up 458 points, while NSE Nifty was trading at 8415 up 138 points. However, the Mid-cap and Small-cap Index, both, is underperforming the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee has gained further ground. It has opened higher by 43 paise at 61.75 per dollar versus 62.18. US markets saw a decline for the fourth straight day as December retail sales failed to meet expectations. The US 10-year treasury yield fell 6 basis points to 1.84 percent.
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