RBI rise repo rate to 8%|market trading lower|Banking stocks down over 1%

On Tuesday RBI governor raghurajan boosted the repo rate 8% from 7.75%.Banking stock are expected to hike their lending rates after the RBI’S surprise move.The Indian rupee fell for third session on Monday hits 63.06 per dollar it weak more than two months.

The RBI has surprised the market by hiking the repo rate by 25 paise, just after the RBI policy was announced banking stock started to slipped bank nifty down 104.20 points or 1%.Nifty down 26.65% or 0.43% at 6109.20 nifty break its narrow rang 6100 level after RBI policy while sensex is slipped 83.10 points or 0.40% at 20624.35.

  rbi-logo-1All stocks of nifty and sensex has down after the credit policy bankex down 123.21 points or 1.02%, IT slipped 86.89 points or 0.92%, capital goods down 18.73 points or 0.20%, we can see in both index shares are trading down after hike RBI policy.

Commodity market also trading down after the Rbi policy gold slipped rs 200 or 0.65% to 29604.00 while silver showing heavy downfall rs 312 or 0.69% to 44902.We can expect in coming session market will goes to recover some points.