{"id":1615,"date":"2019-12-05T15:40:37","date_gmt":"2019-12-05T15:40:37","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/12\/05\/sensex-nifty-recover-mildly-from-sharp-fall-after-rbis-surprise-repo-rate-move-bank-stocks-slip\/"},"modified":"2019-12-05T15:40:37","modified_gmt":"2019-12-05T15:40:37","slug":"sensex-nifty-recover-mildly-from-sharp-fall-after-rbis-surprise-repo-rate-move-bank-stocks-slip","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/12\/05\/sensex-nifty-recover-mildly-from-sharp-fall-after-rbis-surprise-repo-rate-move-bank-stocks-slip\/","title":{"rendered":"Sensex, Nifty recover mildly from sharp fall after RBI&#8217;s surprise repo rate move; bank stocks slip"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1779631 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2.jpg\" alt=\"stock market top gainers, top gainers stock BSE 100 in november 2019, stock market return, best stock performance, economy news, corporate tax cut, rate cut, sensex, nifty, invest in stock market, stock tips\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1779631 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2.jpg\" alt=\"stock market top gainers, top gainers stock BSE 100 in november 2019, stock market return, best stock performance, economy news, corporate tax cut, rate cut, sensex, nifty, invest in stock market, stock tips\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/stock-market-660-2-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">The Sensex fell more than 120 points to hit the day\u2019s low at 40,738.50, in sharp reaction to the central bank\u2019s decision.<\/span><\/figure>\n<\/div>\n<p>The headline indices recovered mildly from sharp fall in the afternoon trade on Thursday after <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a> retained the repo rate at 5.15% amid expectations of a cut. The Sensex is up about 30 points to 40,876. The Sensex fell more than 120 points to hit the day\u2019s low at 40,738.50, in sharp reaction to the central bank\u2019s decision.\u00a0In a surprise move, the Reserve Bank of India\u2019s Monetary Policy Committee did not cut the repo rate, keeping it unchanged at 5.15%. The MPC statement said that the\u00a0decisions are in consonance with the objective of achieving the medium-term target for CPI inflation of 4% within a band of +\/- 2% while supporting growth.\u00a0Retail inflation, measured by y-o-y changes in the CPI, increased sharply to 4.6%\u00a0in October, propelled by a surge in food prices.<\/p>\n<p><strong>WATCH VIDEO | FE Explained: What is RBI Repo Rate? Know about key monetary policy rate<\/strong><\/p>\n<p><iframe class=\"lazy lazy-hidden\" data-lazy-type=\"iframe\" data-src=\"https:\/\/www.youtube.com\/embed\/XzU30OEbsts\" width=\"660\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><noscript><iframe src=\"https:\/\/www.youtube.com\/embed\/XzU30OEbsts\" width=\"660\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/noscript><\/p>\n<p><strong>Also read:\u00a0<a href=\"https:\/\/www.financialexpress.com\/economy\/rbi-mpc-grocery-bills-to-remain-higher-for-this-long-will-rabi-sowing-bring-relief-later\/1785044\/\" target=\"_blank\" rel=\"noopener noreferrer\">RBI MPC: Grocery bills to remain higher for this long; will rabi sowing bring relief\u00a0later?<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">\u201cUnexpectedly RBI held interest rates unchanged at 5.15% and maintained the policy stance to accommodative. This means we cannot completely rule out rate cut expectations going ahead.\u00a0<\/span><span style=\"font-weight: 400;\">Market was expecting a cut of 25bps. This had a negative impact on rupee, and USD\/INR rallied after the policy decision,\u201d\u00a0<\/span><span style=\"font-weight: 400;\">Rahul Gupta, Head of Research-Currency <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/emkay-global-financial-services-ltd-stock-price\/\" rel=\"noopener noreferrer\">Emkay Global Financial Services<\/a> said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following the move, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nifty-bank-stock-price\/\" rel=\"noopener noreferrer\">Nifty Bank<\/a> Index was trading with losses. IDFC Frist, RBL, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/punjab-national-bank-stock-price\/\" rel=\"noopener noreferrer\">PNB<\/a>, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/indusind-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">IndusInd Bank<\/a> were among the biggest losers in the index, shedding up to 3%. In the Sensex pack, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/hdfc-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">HDFC Bank<\/a>, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/kotak-mahindra-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">Kotak Mahindra Bank<\/a>, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/yes-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">Yes Bank<\/a>, IndusInd Bank were all trading up to 1% lower. Notably, repo rate is the rate at which the central bank lends money to commercial banks, in the event of shortfall. Repo rate remaining stagnant would mean that these banks will continue to get funds at the same rate as before, wheras the markets were expecting a cut in the rates.\u00a0<\/span><\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The Sensex fell more than 120 points to hit the day\u2019s low at 40,738.50, in sharp reaction to the central bank\u2019s decision. The headline indices recovered mildly from sharp fall in the afternoon trade on Thursday after RBI retained the repo rate at 5.15% amid expectations of a cut. The Sensex is up about [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1615"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1616"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}