Stock Market Updates for Today

Mahindra & Mahindra Financial Services Ltd slipped as much as 8.3 percent in trade on Monday after its consolidated net profit for the quarter ended December 2014, slipped 13.7 per cent to Rs 157 crore, weighed down by higher loan provisions and write offs. 

We can observe very good moment in India's NSE index rose for a third consecutive session on Monday to mark its highest level in nearly 1-1/2 months, BSE index up 0.6 pct; NSE index adds 0.5 pct. Shares to talk about Wipro results beat the street as its consolidated profits rose a modest 5% even as revenues from its technology business were relatively flat.

 

RBI surprised the street by cutting the repo rate from 8% to 7.75%. Though small, this 'between-the-meetingscut' has given the signal that the RBI is confident of achieving its inflation targets and the focus is shifting towards growth. Since the RBI has always wanted policy action to be consistent with long term rate stance, this cut heralds the start of a new 'rate cut cycle'.

The NSE bank index rose as much as 1.1 percent to a record high of 19,434.20 after the Reserve Bank of India cut interest rates by 25 basis points on Thursday and signalled it could cut rates further amid cooling inflation and government efforts to contain the fiscal deficit.