Friday, the 20th September 2013: Reserve Bank of India headed by the new Governor Raghuram Rajan, in a surprise move, hiked the repo rate by 25bp to 7.50% from 7.25%. Minimum Standing Facility (MSF) rate reduced by 75bp from 10.25% to 9.50% and minimum daily maintenance of CRR reduced from 99% of requirement to 95%. The MSF was earlier hiked from 8.25% to 10.25% in mid-July 2013. As a result Nifty discarded most of yesterday's gains and slipped down to 5933 and after some volatile moves closed at 6012 with a loss of 104 points. Nifty futures range was 6155 - 5950 a difference of 205 points.