A look at the background of RBI"s monetary policy committee meeting and the likely impact of change in repo ratehttps://t.co/AFpVgDnri3
— Livemint (@livemint) April 5, 2018
Highlights
- 9.35 am IST63 Moons Technologies shares fall 4%
- 9.33 am ISTSmartlink Network Systems shares jump 14% on buyback proposal
- 9.30 am ISTWhat to expect in RBI’s monetary policy today
- 9.29 am ISTRupee opens higher against US dollar
- 9.28 am ISTMarket update
BSE Sensex and NSE Nifty traded higher on Thursday. Photo: Mint
- Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty surged over 1% in the opening trade on Thursday ahead of the Reserve Bank of India’s monetary policy decision due after 2.30pm. The central bank will keep interest rates unchanged in the first monetary policy review of the current fiscal year, amid a gradual recovery in growth and easing inflation, showed a Mint poll. Moreover, Asian shares gained, tracking US equities as investors hoped a full-blown trade war between Us and China can be averted, reported Reuters. Here are the latest updates from the markets:
- 9.35 am IST 63 Moons Technologies shares fall 4%63 Moons Technologies Ltd shares fell 3.7% to Rs97.25 after CNBC reported that EOW has freezed operational accounts of the company. EOW also written to competent authority to transfer revenue from ODIN software into escrow account
- 9.33 am IST Smartlink Network Systems shares jump 14% on buyback proposalSmartlink Network Systems Ltd shares rose 14% to Rs103 after the company said its board to meet on 7 April to consider buy back.
- 9.30 am IST What to expect in RBI’s monetary policy todayThe monetary policy committee of the Reserve Bank of India decides on repo rate today, amid falling inflation, softening bond yields and a government borrowing programme that kicks off on Friday. Mint takes a look at the background of the MPC meeting and the likely impact of changes in interest rates.
- 9.29 am IST Rupee opens higher against US dollarThe Indian rupee was trading higher in the morning hours against US dollar ahead of the Reserve Bank of India’s (RBI) monetary policy decision due after 2.30pm on Thursday. The rupee opened at 65.03 a dollar. At 9.15am, the home currency was trading at 65.02 a dollar, up 0.19% from its Wednesday’s close of 65.15. The 10-year bond yield was at 7.3% compared to its previous close of 7.294%. Bond yields and prices move in opposite directions.
- 9.28 am IST Market updateBSE Sensex surged 392.86 points, or 1.19%, to 33,411.93, while the Nifty 50 jumped 123.75 points, or 1.22%, to 10,252.15.