look news india
A meeting of the Reserve Bank of India has been held amidst the global crisis. In this meeting, the RBI governor has announced the repo rate. It is worth noting that at this time the report rate has been kept at 6.5 percent. No change has been made in it even for the 9th time. So know what impact it will have on the common man.
First meeting of MPC after the budget
This is the first MPC meeting of RBI after the presentation of the first budget of Modi 3.0, which started on August 6 and today is its last day. The eyes of the whole country are fixed on this meeting of the Reserve Bank, especially because the repo rate has a direct impact on the EMI of the borrowers' loan. When the repo rate increases, all the banks increase the interest rate on the loan and when the rate decreases, steps are taken to reduce the interest rate. In such a situation, its effect is seen on the EMI paid from your pocket. Currently, the repo rate has remained at 6.5 percent for a long time.
Retail inflation has reached a four-month high
Inflation in India is still above the limit set by the RBI. In June, the retail inflation rate was at a four-month high of 5.08 percent. Unless the retail inflation rate comes down, there is no possibility of a cut in the repo rate. It is worth noting that the Reserve Bank of India last revised the repo rate in February 2023 and increased it to 6.5 percent. Since then, the RBI has not made any change in it for 7 consecutive times.
Sensex-Nifty fell after RBI's announcement
On Thursday, the fourth trading day of the week, the BSE Sensex opened trading at 79,420.49, down from its previous close of 79,468.01, and was at 79,420.49 at the time of writing the news, after the RBI MPC results were released. At 10.10 am, it was at 78,958.32, down 509.69 points or 0.64 per cent. Like the Sensex, the NSE Nifty also fell after some time. It was trading at 24,149.45 after falling 148.50 points.
Big fall in these 10 stocks!
The stocks that fell the most amid the sudden fall in the stock market. Among large cap companies, Infy's shares fell by 2.01%, Powergrid's shares fell by 1.90%, L&T's shares fell by 1.50%, while ABFL's shares fell by 2.93%, PEL's shares fell by 2.58% and Policy Bazaar's shares fell by 2.50%. Among small cap companies, Fusion's shares were trading down by 8.75%, SPAL's shares fell by 6.76%, Omex's shares fell by 5% and Lemontree's shares fell by 4.70%.
