09 Oct 2024 | 11:54:37 AM IST
Synopsis
Sensex Today | Stock Market LIVE Updates |Sensex and Nifty higher on Wednesday ahead of the Reserve Bank of India’s policy meeting, where the central bank is expected to maintain interest rates.
Highlights of Trade:
- Bank stocks, NBFCs rally up to 4%
- RBI keeps rate unchanged at 6.50%
- OMC stocks rise on stable crude oil prices
- Torrent Power surges 7% on securing 2 orders
- RITES shares rise 5% on signing MoU with Etihad Rail
- Sensex opens 200 pts higher, Nifty above 25K
Market view by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The ‘Sell India, Buy China’ strategy pursued by the FIIs recently appears to be coming to an end as indicated by the declining FII sell numbers and the profit booking in Chinese stocks, particularly those listed in Hong Kong. An important takeaway from the FIIs vs DIIs tug-of-war that has happened anytime in the ongoing bull rally is that the fight ended in the victory of the DIIs each time.
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Stock Market LIVE Updates | MIC Electronics shares rise 3% on receiving work order worth Rs 1.20 cr from Malda Division of the Eastern Railway Zone
Price as on 11.54.36 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Honasa Consumer (Mamaearth) announces partnership with Meesho
Mamaearth partners with Meesho to amplify reach in Tier 3 and beyond; targets 100 crore ARR on the platform in the next 12 months.
Price as on 11.44.45 AM, Click on company names for their live prices.
The evolving domestic growth inflation outlook clearly was apt for a change in the monetary policy stance to neutral. While remaining cognizant of emerging risks on the inflation outlook, the neutral stance provides more flexibility to address evolving macro dynamics. From a near term perspective, the policy focus would likely remain attuned to address the skewness in system liquidity and any potential financial stability risks
– Mr. Rajeev Radhakrishnan, CIO – Fixed Income, SBI Mutual Fund on RBI PMC outcome
Stock Market LIVE Updates | Trent rises over 2% after launching its new lab-grown diamond (LGD) brand
Shares of Trent have rallied 12% in the last 2 days and made another new all-time high of Rs 8,318.25 on the BSE today after launching its new lab-grown diamond (LGD) brand ‘Pome’ in Westside stores as part of its pilot launch.
Price as on 11.34.34 AM, Click on company names for their live prices.
Market LIVE Updates | TVS Motor Company partners with Ecofy to transform the landscape of EV 3- wheeler financing in India
Price as on 11.32.49 AM, Click on company names for their live prices.
Market LIVE Updates | Nifty Realty index rises over 2%; Macrotech Developers, Phoenix Mills among top gainers
Price as on 11.22.38 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Ceinsys Tech shares surge 11% on winning Rs 331.61 crore order from Govert of Maharashtra
Price as on 11.17.37 AM, Click on company names for their live prices.
We would think that next move is unlikely to be a rate cut, at this juncture, RBI will only keep its options open towards accommodation. The hawkish points emanate from the points around a) Inflation is on a declining path although there is some distance to cover with upside risks from geo-politics and weather while the agricultural outlook is buoyant and positive for food prices. b) RBI keeps its guard on noting that “we have to be very careful of opening the gate and need to keep the horse to a tight leash” and mentioning that RBI cannot be complacent with the rapidly evolving global conditions. The change in stance rather gives greater flexibility and optionality to act in sync with the evolving outlook.
– Ms. Anitha Rangan, Economist, Equirus on RBI Monetary Policy
Sensex Today | SpiceJet shares rise 7% on settlement of a dispute
SpiceJet and Babcock & Brown Aircraft Management settle $131.85 million dispute.
Price as on 10.59.17 AM, Click on company names for their live prices.
Sensex Today | RBI MPC Impact: Bank, NBFC stocks power Sensex 600 pts higher
Sensex Today | Kalpataru Projects International enters into agreement for sale of Vindhyachal Expressway; stock rises
- Sale to Actis Atlantic Holdings
- Has finalized a deal with an enterprise value of Rs 775 cr
Price as on 10.45.26 AM, Click on company names for their live prices.
RBI MPC Outcome | Indian rupee has remained largely range-bound: RBI Governor
RBI MPC Outcome | Financial sector is healthy, resilient and stable, says Governor Das.
Health parameters of Indian banks remain strong, says RBI Governor cautioning against built up of consumer loan, credit card outstanding.
Stock Market LIVE Updates | Bank stocks, NBFCs rally up to 4% after RBI changes policy stance
Shares of rate-sensitive stocks, including banks and NBFCs, surged by up to 4% on Wednesday morning after the Reserve Bank of India (RBI) shifted its policy stance from ‘withdrawal of accommodation’ to ‘neutral.’ This led to a significant rise in financials, propelling the Sensex up by 500 points.
RBI MPC Outcome | NBFC companies in focus
Price as on 10.31.32 AM, Click on company names for their live prices.
RBI MPC Outcome | NBFC sector healthy but there are few outliers: Das
- Some are chasing excessive returns on their equity
- Pursuing growth without risk management
- should avoid imprudent growth at any cost
- self-correction by NBFCs desired action
- should avoid imprudent growth at any cost
As anticipated, the RBI’s Monetary Policy Committee (MPC) has kept interest rates unchanged in its policy announcement today. While there were hopes for a rate cut in line with the U.S. Fed, the RBI has taken a prudent approach by focusing on key indicators like domestic inflation and financial stability, particularly in light of the declining individual savings as a percentage of GDP, which poses a financial stability risk. Recent global geopolitical developments have led to a surge in oil prices, which could drive inflation further. This likely influenced the MPC’s decision to hold rates steady.
– Mr. Suresh Darak, Founder of Bondbazaar on RBI Monetary Policy
RBI MPC Outcome | CPI Inflation estimate for FY25 remains unchanged at 4.5%
- CPI inflation projected at 4.1% in Q2
- Expected to rise to 4.8% in Q3
- Anticipated at 4.2% in Q4
- Projected at 4.3% in Q1 FY26
Sensex Today | Nifty Bank stocks rise as RBI keeps repo rate unchanged
Price as on 11.04.38 AM, Click on company names for their live prices.
RBI MPC Outcome | GDP estimate for FY25 is kept unchanged at 7.2%
- FY25 est: 7.2%
- Q2 FY25 est: 7%
- Q3 FY25 est: 7.4%
- Q4 FY25 est: 7.4%
- Q1 FY26 est: 7.3%
RBI MPC Outcome | Share of investment in GDP reached highest level since 2012-13: RBI Guv Shaktikanta Das
RBI MPC Outcome | September CPI inflation likely to see a big jump due to base effect: Das
Food inflation to fall later in the year on the back of good monsoon, adequate buffer stock.
RBI MPC Outcome | FY25 real GDP growth seen at 7.2%
RBI MPC Outcome | India’s growth story remains intact: Das
Stock Market LIVE Updates | Sensex jumps over 500 pts
RBI MPC Outcome| MPC decides to change the stance to neutral
- MPC changes policy stance to ‘Neutral’ from ‘Withdrawal of Accommodation’
- Monetary Policy Committee decided 5:1 in favour of status quo on interest rate
RBI MPC keeps repo rate unchanged at 6.5% for 10th consecutive policy
RBI MPC Outcome | Flexible inflation targeting framework has completed 8 years; a major structural reform: Das
RBI MPC Outcome | Shaktikanta Das begins MPC meet
Stock Market LIVE Updates | Alembic Pharmaceuticals shares up 3% as USFDA comppletes inspection at co’s Oncology Formulation Facility at Panelav.
Price as on 09.59.18 AM, Click on company names for their live prices.
Stock Market LIVE Updates | RPP Infra Projects shares rise 3% on getting orders worth Rs 319 cr
Price as on 09.52.58 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Senco Gold jumps 3% after company reported a 27% YoY growth in its Q2 business update
- Same-store sales growth improved to 20% YoY
- Stud ratio rose 11.1%.
Price as on 09.41.37 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Welspun Enterprises shares rise 3% on bagging project valued at Rs 1,989 crore
Price as on 09.39.50 AM, Click on company names for their live prices.
Stock Market LIVE Updates | OMC stocks: IOC, HPCL, BPCL rise on stable crude oil prices
Brent crude futures rose 22 cents, or 0.3%, to $77.4 a barrel by 0349 GMT. U.S. West Texas Intermediate futures rose 14 cents to $73.71 a barrel.
Price as on 09.37.18 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: SKF India shares jumped after receiving approval for the demerger of its automotive and industrial businesses via a scheme of arrangement
Price as on 09.33.14 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Phoenix Mills shares rise 3% on a 25% jump in retail consumption in Q2
Price as on 09.31.40 AM, Click on company names for their live prices.
Market LIVE Updates | Torrent Power shares surge 7% on securing 2 letters of awards from MSEDCL for a total of 2000 MW energy storage capacity.
Price as on 09.25.20 AM, Click on company names for their live prices.
Stock Market LIVE Updates | RITES shares rise 5% on signing MoU with Etihad Rail for rail infra works in UAE
Price as on 09.24.19 AM, Click on company names for their live prices.
Forex News | Rupee rises in early trade
Rupee rises 5 paise to 83.92 against US dollar
Stock Market LIVE Updates | Tata Steel, IOC, NALCO among top movers in morning trade
Price as on 09.21.04 AM, Click on company names for their live prices.
Opening Bell: Sensex rises over 200 pts, Nifty above 25K; HPCL jumps 5%, Suzlon 3%
Stock Market LIVE Updates | Sensex rises 300 pts, Nifty above 25K in pre-open session
Sensex Today | Stock to watch: Infosys shares in focus on expansion of partnership with Old National Bank
Shares of Infosys are expected to attract attention as the IT services company has expanded its four-year collaboration with Old National Bank to enhance the bank’s operational and technological transformation.
Stock Market LIVE Updates | FTSE Russell includes India in EM bond index
FTSE Russell will include Indian government bonds in the FTSE Emerging Markets Government Bond Index (EMGBI) starting September 2025, aiming to boost the significant foreign inflows into domestic debt markets seen over the past year.
Stock Market LIVE Updates | Oil prices steady after sliding on potential Israel-Hezbollah ceasefire
Oil prices steadied in Asian trading on Wednesday, as traders weighed uncertainty surrounding developments in the Middle East conflict against continued bearish fundamentals.
Brent crude futures rose 11 cents, or 0.14%, to $77.29 a barrel by 0223 GMT. U.S. West Texas Intermediate futures rose 3 cents to $73.60 a barrel.
Stock Market LIVE Updates | F&O Ban List: SAIL, GNFC among 10 stocks under trade ban on Wednesday
On Wednesday, ten stocks are under F&O trade ban, including Bandhan Bank, Birlasoft, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India, Hindustan Copper, IDFC First Bank, Manappuram Finance, Punjab National Bank (PNB), RBL Bank, and Steel Authority of India (SAIL).
Stock Market LIVE Updates | No big bang for festival season from Nifty50 companies, September quarter to be muted
Aggregate revenue growth for Nifty 50 companies is expected to remain in single digits for the September quarter, marking the sixth consecutive quarter. However, their bottom lines are projected to grow in double digits year-on-year, according to the latest quarterly estimates from ETIG.
Sensex Today | Stock to watch: JSW Infrastructure shares in focus after MD & CEO steps down
Shares of JSW Infrastructure are expected to be in focus when markets reopen on Wednesday, following the announcement that Managing Director and CEO Arun Maheshwari has resigned from his positions and, as a result, from his role as a Key Managerial Personnel (KMP).
Sensex Today | Stock to watch: Adani Green shares in focus on report of co’s plan to raise up to $1 billion by issue of dollar-denominated bonds
Shares of Adani Green Energy are expected to be in the spotlight on Wednesday after a media report indicated that its four subsidiaries plan to raise up to $1 billion by issuing US dollar-denominated bonds.
Sensex Today | Stock to watch: Edelweiss Financial in focus as co announces Rs 200 crore NCDs
Shares of Edelweiss Financial Services will attract attention on Wednesday following the company’s announcement of a public issue of Rs 200 crore in Secured Redeemable Non-Convertible Debentures (NCDs), which may offer an effective yield of up to 11% per annum.
Stock Market LIVE Updates | GIFT Nifty up 45 points
Following six straight days of decline, the markets bounced back with nearly a 1% gain. Although the recovery in major stocks could push Nifty higher, analysts warn that maintaining this momentum might be difficult.
GIFT Nifty on the NSE IX traded higher by 45 points, or 0.18 per cent, at 25,166.50, signaling that Dalal Street was headed for positive start on Wednesday.
Stock Market LIVE Updates | Shanghai stocks plunge more than 4% at open
Shanghai stocks tumbled more than four percent at the open Wednesday after racking up big gains a day earlier after a week-long break, but Hong Kong clawed back some of the losses of more than nine percent it suffered.
The Shanghai Composite Index shed 4.54 percent, or 158.45 points, at 3,331.33, and the Shenzhen Composite Index on China’s second exchange, dropped 4.31 percent, or 90.51 points, a
Stocks in news: Adani Green, Infosys, Torrent Power, Dr Reddy’s, JSW Infra
Domestic markets ended their six-day losing streak and gained some relief on Tuesday, benefiting the bulls. In today’s trading, shares of Adani Green, Infosys, Torrent Power, Dr. Reddy’s, and JSW Infra will be in the spotlight due to various news developments.
Stock Market LIVE Updates | Dollar steady ahead of Fed minutes, NZ dollar falls after rate cut
The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the United States.
The New Zealand dollar slumped to its lowest since Aug. 19 at $0.6096, after the Reserve Bank of New Zealand (RBNZ) cut interest rates by 50 basis points.
Stock Market LIVE Updates | D-Street Recap
Domestic equity indices rose on Tuesday as investors took advantage of the dip after six consecutive days of losses. Additionally, the BJP’s better-than-expected performance in the Haryana state assembly election boosted market sentiment.
The Nifty 50 index closed 0.88% higher at 25,013, while the S&P BSE Sensex rose 0.72% to 81,634. Both indices had declined about 0.1% earlier in the session
Stock Market LIVE Updates | Forex News
- The euro was little changed at $1.0977
- The Japanese yen was little changed at 148.28 per dollar
- The offshore yuan was little changed at 7.0688 per dollar
- The Australian dollar was little changed at $0.6745
Stock Market LIVE Updates | Global Markets Check
- S&P 500 futures were little changed as of 10:07 a.m. Tokyo time
- Hang Seng futures rose 0.9%
- Nikkei 225 futures (OSE) rose 1.1%
- Japan’s Topix rose 0.5%
- Australia’s S&P/ASX 200 rose 0.6%
- Euro Stoxx 50 futures rose 0.2%
