RBI Rate Cut Boosts Sentiment
Indices in the Indian stock market were helped by a strong late buying surge and this enabled them to close the day on a very positive note. Thus, while BSE Sensex edged higher by around 210 points (up 1.2%), gains on the NSE Nifty came in at around 60 points. BSE Mid Cap and Thomas Sabo Charms Baby Buggy BSE Small Cap indices lagged slightly and edged higher by around 0.6% each. Tiffany Tow Hearts Necklace Only three stocks amongst the Sensex heavyweights ended the day on the losing side.
While Asian indices closed mixed today, Europe has opened on a positive note. The rupee was trading at Rs 51.5 to the dollar at the time of writing.
The Indian markets that were struggling to find a reason to break away from its lacklustre showing, finally got a big one in the form of RBI's rate cut announcement. However, investors assume this to be the panacea for all the ills affecting Indian economy at their own peril. A lot of structural issues need to be sorted out first in order for the lower interest rates to show their effect. Failing to do so would exacerbate the problem and all that the lower interest rate would end up Pandora Silver Gold Yellow Charm 742 doing is stoke fresh fires of inflation. Thus, buying solely on the basis of lower interest rate environment would be a big mistake we believe.
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Barely has the ink on the rate cut decision dried and State Bank of Pandora Silver Gold Yellow Charm 742 India India's largest lender, has got down to business. As per reports, the state owned banking behemoth is planning to cut lending rates on loans that have high interest rates post the Reserve Bank of India decision. This decision comes close on the heels of the bank revising its interest rates on retail term deposits by as much as 75 basis points to 100 basis points. The stock closed higher by more than 1% on the bourses today.