Live Stock Market Updates – RBI policy consistent with neutral stance, Nifty hovers around 9650

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Reserve Bank of India in its second bi-monthly monetary policy meet kept its repo rate unchanged at 6.25%. SLR has been cut by 50 bps to 20% w.e.f. fortnight starting June 24, 2017, whereas the reverse repo rate is at 6% and CRR at 4%.

PSU Bank’s surged post-lunch hours on Wednesday. SBI is up by 0.8% at Rs 289 per share, Punjab National Bank is up by 1.1% at Rs 151 per share, Bank of Baroda is up by 1.1% at Rs 176 per share and Oriental Bank of Commerce is also trading higher by 2.9% at Rs 155 per share.

At 3 PM, the S&P BSE Sensex is trading at 31193 up 3 points, while NSE Nifty is trading at 9647 up 10 points. A total of 56 stocks registered a fresh 52-week high in trade today, while 38 stocks touched a new 52-week low on the NSE.

The BSE mid-cap Index is trading up 0.30% at 14776, while BSE small-cap Index is trading up 0.67% at 15413.

Some buying activity is seen in Healthcare, FMCG and Bankex indices, while Information Technology index is showing weakness on BSE.

Vedanta, M&M, ICICI Bank and GAIL are among the gainers, whereas TCS, Tech Mahindra, Wipro and Infosys are losing on the NSE.

The INDIA VIX is down 2.6% at 10.8.

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