On 4th March, 2015(Wednesday) Reserve Bank of India Governor Raghuram Rajan cut repo rate by 0.25 per cent with immediate effect. The announcement came at 8.30 a.m. before markets opened. The reasons for choosing such a time just before market openig is ambigous as pointed out earlier on 15th January,2015. As a result Nifty opened at 9109(+113), rose up to 9119(+123) but, crashed to 8894 and closed at 8923 with a loss of 73 points. Nifty futures range was 9191 - 8926, down swing of 265 points. The advantage of todays activites clearly goes to FIIs especially to Singapore FIIs.