Sept. 16: The Reserve Bank of India today raised its benchmark interest rate ' the repo ' by 25 basis points to 8.25 per cent and said it wouldn't back down on its tight monetary stance when there was still "an element of suppressed inflation" within the system. Nifty opened exactly at top of G2(5123) with a gain of 47 points, moved in the range 5093 - 5132 up to 11:55, on RBI announcement of Repo rate hike surged to 5144 and tanked to 5068, thereafter moved within the range already set in and closed at 5084 with a gain of 8 points. Nifty futures range was 5071 - 5155, having a difference of 84 points. Nifty may again move to top of G2. Tomorrow's Agni level is at 5037.
No comments:
Post a Comment