INDIAN BENCHMARKS registered impressive gains in the week ended mainly on the back of sharp rally in the indices in the penultimate trading session of the week on Thursday, 15 January 2015, triggered by the RBI surprise announcement of a cut in its main lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review on that day.
Further, The RBI has reduced repo rate by 25 bps to 7.75% (from 8 % earlier) with immediate effect. This is significant positive for banking sector (SBI, ICICI, PNB, BOB etc) and NBFCs (Bajaj Finance, LIC Housing etc).
The INDIAN BENCHMARKS advanced 663.51 points or 2.41% to settle at 28,121.89. The CNX Nifty rose 229.30 points or 2.76% to settle at 8,513.80
GLOBAL MARKET CHASE
ASIAN STOCKS stepped back and major currencies mostly stuck to late U.S. levels as investors caught their breath, after Switzerland's unexpected move to abandon its currency cap jolted markets already roiled by plunging commodities prices.
U.S. STOCKS US stock index futures poised for a lower opening at the Wall Street on Friday.
EUROPEAN STOCKS lower as investors further marked down Swiss franc-denominated equities a day after the shock lifting of the central bank's cap on the currency.
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