Market reacts sharply to RBI policy
27 Oct 2009, 1929 Hrs

Add comment          Mail          Print          Write to Editor

Mumbai, Oct 27 (ANI) : Markets on Tuesday plunged by more than 380 points, its biggest single day loss in over two months, on frantic selling sparked by the Reserve Bank's (RBI) quarterly monetary policy review.

The investors and market analysts reacted sharply as the Sensex plunged.

"Last week the Bombay Stock Exchange Sensex collected more than 500 points which came down by 70 to 80 points yesterday. Today the sensex has again tumbled down by 100 points. I would not compare this situation to the one that was in March 2009, which was caused due to the crisis in confidence," said Sunil Shah, a market analyst.

While one of the investors, Vipin Joshi said that as the Gross Domestic Product (GDP) growth is not powerful, there wouldn't be any changes as such.

"The government is worried about the inflation at this point of time. The Gross Domestic Product (GDP) growth is not at all powerful, so there won't be changes as such. Further, I don't think there will be anything that will favour the banks after the meeting," said Vipin Joshi, an Investor.

The markets are eyeing on the monetary policy statement to be announced by the Reserve Bank of India. The statement to be issued by the RBI will further decide the course of the interest rates of the banks.(ANI)

Related Latest

Pak PM says new Afghan policy should not affect regional balance Equities market ends in red, Sensex down 213 points Delhi government to sell flour at below market rates Rich nations should provide greater market access to developing countries: Sharma High price of saffron in international market leaves Kashmir Valley farmers delighted India a leading market for PepsiCo : Nooyi Labour's open door migrant policy may have allowed Taliban to slip into UK 8 killed in Peshawar cattle market suicide blast Market reacts sharply to RBI policy RBI raises SLR by a percentage, other key rates unchanged

Related Latest

India Govt. willing to give safe passage to ULFA leaders Baruah, Arabinda Rajkhowa China told no guardianship role will be appreciated Indian Government says it has a plan to deal with Maoist violence India to get state of the art surveillance gear as part of counter-terror cooperation with US US-India civil nuclear deal in final stages of completion US to give crucial information on Headley-Rana accomplice's 26/11 role to India Restoration of Mughal road in J-K heads towards completion China wants a Chinese version of Tibetan Buddhism, says Dalai Lama Cultural heritage of Manipur showcased in Sikkim Green Park stadium's scoreboard, the only manually operated scoreboard in India

• India to get state of the art surveillance gear as part of counter-terror cooperation with US
• China told no guardianship role will be appreciated
• Indian Government says it has a plan to deal with Maoist violence
• US-India civil nuclear deal in final stages of completion
• India Govt. willing to give safe passage to ULFA leaders Baruah, Arabinda Rajkhowa

• भारतीय क्रिकेट की मजबूत दीवार
• कंगारूओं के आगे ढेर, चीतों से कैसे मुकाबला करेंगें शेर
• Reducing greenhouse gases may not be enough to slow global warming
• बीकानेर महापौर चुनावः एक विश्लेषण
• Deepawali: The Festival Of Lights