Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: empanelment :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company
 
 
« Markets »
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?
 Sebi mulls allowing foreign VCs in infra investment firms

Stock markets absorb CRR, repo rate hike
June, 26th 2008

Overcoming the initial sharp fall in stocks in reaction to the CRR and repo rate hike by the Reserve Bank of India yesterday, the markets today managed to negate the impact of the RBI move in late deals.

However, the future course would depend upon the actual impact of the RBI measures on the rate of inflation. Friday should be a crucial day when fresh inflation numbers would be declared.

Market watchers said the RBI governor Dr YV Reddys meeting with the Prime Minister, Dr Manmohan Singh and finance minister Mr P Chidambaram was a sufficient hint that the central bank would come up with some drastic announcement. Dr Reddy did not disappoint although the simultaneous increases were totally unexpected.

The stiff dozes of 50 basis point hikes evoked panic selling reaction on the Dalal Street this morning. More so because Thursday will be the expiry date for Junes contracts. The 30-scrip Sensitive Index started 250.51 points down at 13,856.07 points and slipped further to a 13 month low of 13,731.54 points when a gradual recovery set in mainly on account of short-covering as investors bought shares at lower levels.

The benchmark index of the Bombay Stock Exchange closed at 14,220.07 points gaining 113.49 points or 0.80 per cent. The trend was more positive at the National Stock Exchange where the broader markets 50-stock S&P CNX Nifty ended 1.47 per cent up at 4,252.65 points gaining 61.55 points.

The highlight of todays business had been a spurt in total turnover consisting of BSE+NSE (cash) and F&O. It nearly reached Rs 100,000 crore with the F&O sector accounting for Rs 81,000 crore.

Analysts say tomorrow being the rollover day for future contracts the volatility in todays market was justified. Yesterday FIIs had bought equities worth Rs 275 crore But the foreigners have so far net sold $6 billion worth Indian equities.

The two additional factors that softened the impact of CRR and repo hikes were positive buying in European markets this afternoon and crude oil prices looking steady at around $137 per barrel.

The OPEC has blamed dearer crude on weak dollar and not on the markets demand and supply positions.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions