Sensex ends 205 pts lower, Nifty below 10050 post RBI policy outcome

Here's all that happened in the market today

2:42 PM

RBI Policy

MPC member R Dholakia favoured 25 bps cut in Repo Rate

2:41 PM

RBI Policy

MSF, Bank Rate also remains unchanged at 6.25%

2:40 PM

Nifty PSU Bank down 1% as repo rate unchanged

Source: NSE

2:39 PM

Top Sensex gainers and losers

Source: BSE

2:37 PM

RBI Policy

FY18 Real GVA growth aim stays at 6.7% with risks evenly balanced
 

CPI seen 4.3-4.7% Oct-Mar including rent allowance hike

2:36 PM

Market Check

The S&P BSE Sensex was trading at 32,696, down 105 points while the broader Nifty50 index was ruling at 10,054, down 63 points

2:35 PM

RBI Policy

Monetary Policy Committee votes 5:1 to maintain status quo on Repo rate

2:33 PM

Repo rate unchanged 

Benchmark indices remained under pressure as the Reserve Bank of India maintained repo rate unchanged at 6%.

 

It also retained its “neutral” stance, while cautioning about inflation, which accelerated to a seven-month high in October.

2:27 PM

Shilpa Medicare slips after USFDA issues 10 observations

 

Shilpa Medicare slipped 6% to Rs 599 on the BSE in intra-day trade after the company announced that it has received ten 483 observations from the US drug regulator in relation to SEZ formulation facilities located at Telangana.

 

“The company has received 483 Observations from the United States Food & Drug Administration (USFDA) in relation to SEZ Formulation Facilities situated at Jadcherla, Telangana (near Hyderabad),” Shilpa Medicare said in a statement. READ MORE

2:16 PM

Monetary policy meet: RBI expected to maintain status quo today

 

There is a consensus in the market that the six-member monetary policy committee won’t change the policy repo rate in their two-day meet that concludes on Wednesday. 

 

Not only rising inflation, but hardening bond yields, and tightening liquidity also reduce the scope for the central bank to go lenient on rates for now. As such, the policy repo rate is expected to stay at 6 per cent, said a 10-member BS poll of economists and bond dealers. 

 

While the policy stance would likely remain at ‘neutral’, many economists say it could be the end of rates easing cycle. READ MORE

2:00 PM

Market Check at 2 pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,692.00	-110.44	-0.34
S&P BSE SENSEX 50	10,518.25	-40.91	-0.39
S&P BSE SENSEX Next 50	34,880.75	-235.88	-0.67
S&P BSE 100	10,545.09	-46.01	-0.43
S&P BSE Bharat 22 Index	3,637.06	-23.54	-0.64

1:45 PM

Nifty PSU Bank index slips over 1% ahead of RBI policy outcome

Source: NSE

1:31 PM

Asia stocks hit 2-month low

 

Asian stocks slipped across the board on Wednesday as various factors including weaker metals prices and monetary policy concerns in China soured investor risk sentiment.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped to a two-month low and was last down 1.5%.

 

The fall in the index deepened as Asia's equity markets suffered losses, with Shanghai stocks falling to three-month lows and Hong Kong's Hang Seng dropping to a one-month trough amid fears over central banks tightening liquidity.

 

Japan's Nikkei was last down 2% with non-ferrous metals producers suffering large losses after copper's slide overnight to a two-month low.

1:20 PM

Sectoral Trend

Source: NSE

1:03 PM

Nifty Metal index hits two-month low

 

Shares of metal companies were trading under pressure with the Nifty Metal index hitting its two-month low on the National Stock Exchange (NSE) on weak base metal prices.

 

Hindalco Industries, Hindustan Zinc and Vedanta dipped 3%, Hindustan Copper, Jindal Steel and Power, Tata Steel and National Aluminium Company (Nalco) down 2% on the NSE. READ MORE