Reports » India
Indian stock market daily closing report (January 29, 2013)
January 29, 2013, Tuesday, 11:44 GMT | 06:44 EST | 16:14 IST | 18:44 SGT
The Indian markets ended in red on account of profit booking in todays trading session. The markets have already factored in the 25 basis point cut in repo rate so the RBI policy outcome failed to impress market today.
The Reserve Bank of India has slashed the repo rate by 25 bps to 7.75% in its monetary policy review meet today. The reverse repo rate will also be adjusted to 6.75% from 7%. It has also announced a cut in CRR by 25 bps to 4%, effective February 9, 2013. The apex bank has cut interest rate for the first time in nine months. The CRR cut is expected to infuse Rs 18,000 crore of liquidity into the banking system.
The breadth of the market was negative in todays trade.
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