A look at the headlines in the sector right now:

  1. Monetary Policy Committee cuts RBI's key repo rate to 6.25%: This is the first time the six-member panel decided the figure, which all members voted to reduce.
  2. Sensex, Nifty close higher after RBI repo rate cut to 6.25%: Shares of banking, real estate and auto companies saw gains after the central bank announcement, while SBI, Airtel and Tata Steel were among the top performers.
  3. Rupee hits one-month high against US dollar after RBI rate cut: The currency closed at 66.46, a 0.18% gain from its previous close of 66.58.
  4. Economic impact of Army's surgical strikes along LoC will be 'extremely marginal', says Arun Jaitley: The finance minister said its effects on Indian markets had been temporary, and that FDI continues to grow.
  5. Pound falls to 31-year-low against the US dollar: On Sunday, British PM Theresa May had announced that the country will start the formal process to exit the European Union in March 2017.
  6. Final black money tally disclosed under Income Declaration Scheme may increase by Rs 10,000 crore: The Income Tax Department is expected to submit the final figure by next week to the Central Board of Direct Taxes.
  7. Anil Ambani's Reliance Group ties up with Dassault to help French firm invest in India for Rafale deal: The defence company has agreed to invest 50% of its earnings from the contract with the government to supply 36 units of the aircraft, as per a new rule.