Nifty Bank mixed ahead of RBI's policy meet
DSIJ Intelligence / 06 Dec 2017
Nifty Bank index was showing apprehension about the ongoing Monetary Policy Meet on Wednesday, while next in line private bank stocks were trading in green, among them were Federal Bank, Kotak Bank and Yes Bank.
Nifty Bank was showing apprehension about the ongoing Monetary Policy Meet on Wednesday. At 11:27 hours Nifty Bank was trading at 25,038.80 points, down 86.05 points or 0.34 per cent, while Nifty50 was at 10,072.15, down 46.10 points or 0.46 per cent, at 11:39 hours.
Next in line private bank stocks were trading in green, among them, Federal Bank was trading at Rs. 109.15 per share, up by 1.02 per cent, Kotak Bank was at Rs. 1,003.45, up 0.36 per cent and Yes Bank was at Rs. 308.75, up 0.02 per cent.
Meanwhile, major private banks were trading in the red, ICICI Bank was at Rs. 302.75 per share, down by 0.82 per cent, HDFC Bank was at Rs. 1,818.00, down 0.13 per cent and Axis Bank was at Rs. 532.60, down 0.10 per cent.
There is a consensus in the market that RBI will keep rates unchanged, but also expectations that the RBI governor would give directional comments with regards to interest rates, fiscal deficit and insolvency proceedings. Thus the market is very volatile and in a wait and watch mode on Wednesday.