A range bound movement was witnessed as key benchmark indices retained
positive zone in mid-afternoon trade. The market breadth indicating the
overall health of the market turned negative from positive. The
barometer index, the S&P BSE Sensex, was currently up 81.50 points or 0.29% at 28,157.05. European and Asian stocks fell as the fallout from Switzerland scrapping its euro cap extended into a second day. Pharma stocks edged higher.
Union Bank of India joined United Bank of India in cutting base rate after a surprise reduction in repo rate announced by the Reserve Bank of India (RBI) yesterday, 15 January 2015, morning. The RBI surprised financial markets by announcing a cut in its main lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review yesterday, 15 January 2015, and stated that easing of inflationary pressures provided headroom for a shift in the monetary policy stance.
Meanwhile, the Ministry of Commerce & Industry today, 16 January 2015, said that some Japanese companies are seriously contemplating their future investment plans in India amounting to about Rs 75000 crore over the next 2-3 years.
Read more Click Here / www.trade4x.net
Union Bank of India joined United Bank of India in cutting base rate after a surprise reduction in repo rate announced by the Reserve Bank of India (RBI) yesterday, 15 January 2015, morning. The RBI surprised financial markets by announcing a cut in its main lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review yesterday, 15 January 2015, and stated that easing of inflationary pressures provided headroom for a shift in the monetary policy stance.
Meanwhile, the Ministry of Commerce & Industry today, 16 January 2015, said that some Japanese companies are seriously contemplating their future investment plans in India amounting to about Rs 75000 crore over the next 2-3 years.
Read more Click Here / www.trade4x.net
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