Sensex, Nifty Rally As RBI Surprises With Jumbo Rate Cut

RTTNews | il y a 5
Sensex, Nifty Rally As RBI Surprises With Jumbo Rate Cut

(RTTNews) - Indian shares rallied on Friday as the Reserve Bank of India (RBI) surprised the market with a 50 basis points (bps) cut in the benchmark repo rate to 5.5 percent, slashed the cash reserve ratio (CRR) by 100 basis points to 3 percent, and also trimmed its inflation forecast for the year by 30 basis points to 3.7 percent.

The CRR cut alone is estimated to release Rs. 2.5 lakh crore into the financial system and boost economic growth.

RBI governor Sanjay Malhotra said the changes in growth-inflation dynamics call for not only continuing with the policy easing but also frontloading the rate cuts to support growth.

Traders also reacted positively to new reports that suggested the U.S. and China will resume trade talks in hopes of breaking an impasse over tariffs and global supplies of rare earth minerals.

The benchmark S&P/BSE Sensex jumped 746.95 points, or 0.92 percent, to 82,188.99 while the broader NSE Nifty index closed at 25,003.05, up 252.15 points, or 1.02 percent, from its previous close.

The BSE mid-cap and small-cap indexes gained 0.9 percent and 0.4 percent, respectively.

The market breadth was strong on the BSE, with 2,282 shares rising while 1,741 shares declined and 133 shares closed unchanged.

Rate-sensitive stocks topped the gainers list, with Bajaj FinServ, IndusInd Bank, Maruti Suzuki India, Axis Bank and Bajaj Finance surging 2-5 percent.

read more
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, after US President Donald Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade." However, signs of escalating geopolitical tensions in the Middle East are weighing on market sentiment.
RTTNews | il y a 42 minutes
Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Indian shares look set to open lower on Thursday as oil prices climbed on signs of rising tensions in the Middle East and U.S. President Donald Trump said he would notify trading partners within the next one to two weeks about the new unilateral tariff rates, with the choice to accept or reject them.
RTTNews | il y a 1h 20min
Rally May Stall For Thai Stock Market

Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in back-to-back sessions, collecting more than 6 points or 0.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,140-point plateau although it may be stuck in neutral on Thursday.
RTTNews | il y a 1h 53min
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, snapping a four-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,200 level, with weakness across most sectors led by automakers, exporters and technology stocks. Financial stocks are the only bright spot.
RTTNews | il y a 2h 15min
Indonesia Bourse May Extend Wednesday's Losses

Indonesia Bourse May Extend Wednesday's Losses

The Indonesia stock market on Wednesday ended the three-day winning streak in which it had gained almost 190 points or 2.7 percent. The Jakarta Composite Index now rests just above the 7,220-point plateau and the losses may accelerate on Thursday.
RTTNews | il y a 2h 23min
Australian Market Slightly Higher

Australian Market Slightly Higher

The Australian market is trading slightly higher on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving a tad above the 8,600 level, with gains in gold miners and eergy partially offset by weakness in iron ore miners.
RTTNews | il y a 2h 35min
Hong Kong Bourse May Hand Back Wednesday's Gains

Hong Kong Bourse May Hand Back Wednesday's Gains

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,360-point plateau and it's likely to remain rangebound on Thursday.
RTTNews | il y a 2h 38min
Lower Open Anticipated For Taiwan Stock Market

Lower Open Anticipated For Taiwan Stock Market

The Taiwan stock market has moved higher in three straight sessions, accelerating more than 810 points or 3.6 percent along the way. The Taiwan Stock Exchange now sits just above the 22,470-point plateau although it's expected to open under water on Thursday.
RTTNews | il y a 3h 23min