ECONOMY ANALYSIS
Sensex, Nifty weak; Sesa surges 6%, RIL & ONGC support
Credit Policy: RBI leaves rates as is, cuts SLR by 50 bps
Shree Cement Q2 profit slips 19% to Rs 94cr, meets forecast
PNB Q3 disappoints, profit up 2.5%; asset quality worsens
Hero Motocorp Q3 profit seen up 31% to Rs 689 cr: Poll
Govt to raise Rs 5000 cr through ETF sale before March-end
MARKET ANALYSIS
The Nifty extended its losses for third straight session and closed near 8,750 as banks plunged after the Reserve Bank of India didn't tinker with interest rates.
The Reserve Bank of India left repo rate unchanged at 7.75 percent and CRR at 4 percent. It cut SLR by 50 bps to 21.50 percent from 22 percent.
The 50-share index ended at 8,748.85 down 48.55 points or 0.55 percent. It touched a high of 8,837.30 and a low of 8,726.65 in trade today.
The S&P BSE Sensex closed at 28,973.34, down 148.93 points or 0.51 percent. It touched a high of 29,253.06 and a low of 28,900.41 in trade today.
The Bank Nifty ended closed at 19,329.95, down 535.95 points or 2.70 percent. It fell to intraday low of 19,303.50 in trade today.
Punjab National Bank (8.32 percent), Axis Bank (5.13 percent), Tata Power (4.11 percent), Kotak Bank (3.85 percent) and Bajaj Auto (3.80 percent) were among the index losers.
The market breadth was negative on the NSE with 660 gainers against 823 losers.
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