Market Today : RBI Policy Updates

The Sensex was up 66 points at 19,310 and theNifty was up 18 points at 5876. There was not much activity in small and midcap shares in early trade.

Brokers said the market is consolidating its gains, and that near term outlook remains positive on hopes that the government will be able to keep up the pace of reforms.

Jet Airways and BHEL figure among the key gainers, up around 2 percent each. JP Power was the top loser, down 6 percent. Other laggards included IPCA Lab, Oriental Bank, Union Bank and IRB Infra, all down about 1 percent each.

RBI Policy Updates :-

1. RBI keeps key policy rates unchanged

2. RBI keeps repo rate unchanged at 8.00%

3. RBI holds cash reserve ratio at 4.25%

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RBI Policy Today : Market Trend 30 October

Stock Updates and News :-

1. US stock markets will remain closed for the second consecutive day affected by Hurricane SANDY.

2. RBI Credit Policy today at IST 11:00am, keep a close eye on it.

3. World Market Updates :-

US Markets -Negative (Closed on account of Hurricane SANDY)

European Markets - Negative

Asian Markets - Flat

Stock Market Recommendations For Today :- 

Market from the morning waiting for the RBI monetary policy which is going to be announced today at 11:00am. All bank stocks are excited and showing good upmoves. SBI, ICICI and HDFC bank stocks are trading higher from the morning. RBI revises GDP forecast to 5.7%, rate cut unlikely. But Rate cut happen then its a big surprise. 

ALERT: Next week, it’ll be the US Presidential elections followed by result. If Mr. Barack H. Obama wins the election, then market is ready for new bull-run.

Before presidential election, we have to be cautious in the market. Don’t trade heavy positions right now.

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