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Markets rejoice RBI credit policy - January 24, 2012

January 24th, 2012

The de-growth of the Indian industries and the bleak economic environment will definitely be the main points of consideration, amongst others, as RBI will announce its short term credit rate policy decision later today. The Indian stock markets are keenly watching at it and would take a directional call based on it. For the past few sessions, the Global economic news isn’t that worry some. Even the quarterly results from top notch companies was okay if not dismal. Hence, RBI policy is considered a key directional call for the markets.

Earlier, the US markets (Jan 23, 2012) closed flat ahead of the Fed meeting.

Fortune Interfinance (FIFL) is bullish on Tata Consultancy Services (TCS) and has recommended buy rating on the stock with a target price of Rs 1165 in its January 19, 2012 research report.

The markets have finally given a blockbuster rally with the RBI deciding to keep the rates intact except for the cash reserve ratio which is relaxed in favor of the banks. Banks and Infra stocks had a stellar rally.

SENSEX closed at 16995.77 gaining a whopping 244.04 (1.46%) points. NIFTY closed at 5127.35 gaining 81.10 (1.61%) and appears to be building a stable base above the 5.1k mark. CNX Midcap closed at 6954.05 up 119.85 (1.75%) while BSE Smallcap ended at 6338.01 adding 44.00 (0.7%) points.

Entry Filed under: Equity Markets