RBI Hike CRR by 0.5 - Market Update

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Market Update :

RBI Hike CRR by 0.5%

Author: 123jump.com Staff
123jump.com
Last Update: 11:51 AM EDT April 21 2008

Stocks in India rallied in sympathy with regional gains. Sensex in Mumbai trading rose 1.6% to 16,739. The Reserve Bank of India ahead of its annual fiscal policy review announced 0.5% increase in cash reserve ratio in an effort to cool the inflation. Wholesale and consumer price inflation indexes have been rising rapidly and are now running near twice the target rate set by the government. Titagarh wagon, new issue, was the most active on BSE trading.

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