Daily Archives: August 17, 2017

RBI still has room to slash key rate in current fiscal

RbinoteThe Reserve Bank still has room to cut the key policy rate in the current fiscal, veteran banker Naina Lal Kidwai has said, while stressing that banks should pass on the benefits of lower rates to customers, reported PTI. RBI reduced the repo rate by 0.25 per cent to 6 per cent earlier this month, citing reduction in inflation risk. The rate cut was the first in 10 months and brought policy rates to near 7-year low.

“There is clearly room for further rate cuts. But the rate cut from RBI is not good enough. The rate cut has to happen from the way banks engage with industry, and that is a function on how efficient the banks are, what are their NPAs, their losses,” Kidwai told PTI on the sidelines of a conference here. She further said the resolution of non-performing assets (NPAs) or bad loans, going forward, will be a “big positive”.

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Nifty may open on negative note, shed 8 points

nifty-marketF&O Outlook:

Nifty PCR-OI has increased to 0.98 from 0.92. The rise in the ratio may be due to increase in PE of 9700 and decrease in CE of 10500. PE of 9800 and CE of 9900 are the highest number of contracts traded.

 

Opening for the Day:

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 8 points at the opening bell.

BANK NIFTY FUTURE & NIFTY TREND-CONSOLIDATE

NIFTY SPOT LEVELS
SUPP 1: 9700
SUPP 2: 9650
RES 1: 9930
RES 2: 10020

BANK NIFTY FUTURE LEVELS
SUPP 1: 24020
SUPP 2: 23560
RES 1: 24560
RES 2: 25222

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