1. RBI keeps repo rate unchanged at 6%: Check how Sensex has reacted to RBI policies in FY 2018

RBI keeps repo rate unchanged at 6%: Check how Sensex has reacted to RBI policies in FY 2018

As RBI kept the repo rate unchanged at 6% for the second time in the row after August 2017, we take a look at the Sensex movements in FY 2018 when policy statements were announced.

By: | Updated: December 6, 2017 3:01 PM
Sensex and Nifty opened lower on Wednesday ahead of the outcome Reserve Bank of India’s bi-monthly policy meeting due later today. (Image: PTI)

The Reserve Bank of India left the key repo rate unchanged at 6%. Investors were highly awaiting the Reserve Bank of India’s repo rate call scheduled for today, 6 December 2017. The key equity indices Sensex and Nifty were trading in red since today morning quickly made new lows for the day. In the financial year 2017-2018, five bi-monthly policies have been announced so far. Indian stock markets which are on a continuous upmove since last one year has been on a declining trend for the last 7 trading sessions. The resolution of Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel was made public today. The central bank had reduced the benchmark lending rate by 0.25% points to 6% in August, bringing it to a 6-year low, however, kept it unchanged in October and now in December.

Sensex today:

This image shows the latest stock movement in the 30-share index Sensex. (Image: BSE)

As RBI kept the repo rate unchanged at 6% for the second time in the row after August 2017, we take a look at the Sensex movements in FY 2018 when policy statements were announced.

Fifth Bi-monthly Monetary Policy Statement for 2017-18: December 6, 2017

The benchmark Sensex opened little down at 32,798.5 and fell as much as 237.28 points to hit the day’s low at 32,565.16. The Reserve Bank of India left the repo rate unchanged at 6.00%.

Fourth Bi-monthly Monetary Policy Statement for 2017-18: October 4, 2017

The benchmark Sensex opened 24.79 points higher at 31,522.17 and closed at 31,671.71, up 174.33 points. The Reserve Bank of India left the repo rate unchanged at 6.00%.

Third Bi-monthly Monetary Policy Statement for 2017-18: August 2, 2017

The benchmark Sensex opened 66.41 points higher at 32,641.58 and closed at 32,476.74, down 98.43 points. The Reserve Bank of India slashed the repo rate to 6.00% from 6.25%.

Second Bi-monthly Monetary Policy Statement for 2017-18: June 7, 2017

The benchmark Sensex opened 62.15 points higher at 31,252.71 and closed at 31,271.28, up 80.72 points. The Reserve Bank of India left the repo rate unchanged at 6.25%.

First Bi-monthly Monetary Policy Statement for 2017-18: April 6, 2017

The benchmark Sensex opened 27.35 points lower at 29,946.89 and closed at 29,927.34, down 46.9 points. The Reserve Bank of India left the repo rate unchanged at 6.25%.

The Reserve Bank of India kept the repo rate unchanged on Wednesday at 6% in its latest credit and monetary policy review, as was widely expected given the concerns on the rising headline inflation and firm global crude oil prices. The RBI’s 6% repo rate, last revised in August, is lowest in seven years since November 2010. “On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6%,” the central bank said in its policy statement.

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