INSUBCONTINENT EXCLUSIVE:
By afternoon, stock markets were trading with losses.Domestic stock markets swung between gains and losses on Friday, a day after the
Reserve Bank of India (RBI) cut the repo rate to a nearly nine-year low
39,472.99, down 56.73 points or 0.14 per cent from the previous close, and the Nifty was down 5.90 points or 0.05 per cent at 11,837.85.Top
laggards on the 50-scrip index were Dr Reddy's Laboratories, Cipla, Reliance Industries, Coal India and Yes Bank, trading between 1.12 and
cent and 1.32 per cent lower - were among the prominent losers on the 30-scrip benchmark index.Shares of Dewan Housing Finance fell as much
as 9.48 per cent to their lowest in over five years, following a slew of credit rating downgrades earlier this week.Wipro shares, on the
other hand, rose as much as 1.01 per cent, a day after the IT services firm said its founder Azim Premji would retire as executive chairman
appointment of his son and whole-time director Rishad Premji as the new executive chairman.The Reserve Bank of India's Monetary Policy
Committee (MPC), led by Governor Shaktikanta Das, on Thursday, lowered the key lending rate to 5.75 per cent, a level last seen in September
The six-member committee also changed the policy stance to "accommodative" from "neutral" after latest data showed that the economy grew at
its slowest in over four years.
