INSUBCONTINENT EXCLUSIVE:
Benchmark equity indices BSE Sensex and NSE Nifty gained over a quarter a per cent immediately after the Reserve Bank of India decided to
keep key interest rates unchanged.
The 30-share Sensex was up 217 points, or 0.53 per cent, at 41,360, while the 50-share Nifty index was up
61 points, or 0.5 per cent, at 12,150 at around 1:22 pm.
Non-banking finance majors including LIC Housing Finance, HDFC and L-T Finance
Holdings gained up to 5 per cent after the RBI decision
regulation of HFCs from National Housing Bank (NHB) to Reserve Bank with effect from August 09, 2019, a Press Release dated August 13, 2019
was issued stating that Reserve Bank will carry out a review of the extant regulatory framework applicable to HFCs and issue revised
regulations in due course, and till such time HFCs shall continue to comply with the directions and instructions issued by NHB
release.
The central bank also added that there will be no downgrade of commercial realty loans if the delay is genuine
As many as 21 stocks in the Sensex pack were trading in the green with Bharti Airtel gaining the most at 2.64 per cent
It was followed by HCL Technologies (up 1.95 per cent), Axis Bank (up 1.71 per cent), Power Grid (up 1.53 per cent) and Bajaj Finance (up
1.42 per cent).
On the other hand, Infosys, Titan, Kotak Mahindra Bank and Reliance Industries were down between 0.40 per cent and 1.15 per
cent.
RBI, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative
policy stance as long as it was necessary to revive growth.
The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at
traction in a more broad-based manner
