Sensex gains 447 pts, ends at 45,080 as RBI revises FY21 GDP growth outlook
All that happened in the markets today
 "Options trading gathers steam in Q2; share of cash in average volumes falls")
NSE's Nifty ended at 13,259, up 125 points, or 0.95 per cent.
2:09 PM
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Recovery from intra-day lows in today's session
| COMPANY | DAY'S LOW(RS) | DAY'S HIGH(RS) | LATEST(RS) | RISE(%) |
|---|---|---|---|---|
| INDOSTAR CAPITAL | 295.10 | 355.00 | 349.00 | 18.26 |
| I R C T C | 1383.85 | 1596.00 | 1555.10 | 12.37 |
| ADANI POWER | 56.20 | 64.00 | 61.30 | 9.07 |
| JTEKT INDIA | 80.10 | 87.85 | 86.55 | 8.05 |
2:01 PM
Top gainers on the BSE at this hour
1:52 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
|---|---|---|---|
| ADANI PORTS | 447.65 | 448.65 | 2.73 |
| ADANI TRANSMISSI | 433.55 | 444.60 | 1.36 |
| APL APOLLO TUBES | 3567.00 | 3580.00 | 0.36 |
| ASIAN PAINTS | 2409.75 | 2426.80 | -0.05 |
| BAJAJ ELECTRICAL | 600.90 | 605.00 | 1.16 |
1:50 PM
BROKERAGE VIEW | ICICI Securities on Mindtree
RATING: BUY | TARGET PRICE: Rs 1,680
Healthy order book, higher pipeline, strategy to drive large deals, hire tier 1 leaders to scale growth and expertise in digital technology bode well for long term growth. This, coupled with ability to sustain healthy margins, prompt us to remain positive on the stock. Hence, we maintain our BUY rating and target price of Rs 1,680/share (22x FY23E EPS).
1:42 PM
Indian aviation industry to report a net loss of Rs 21,000 cr in FY21: Icra
The Indian aviation industry is expected to report a net loss of Rs 21,000 crore in the current financial year (FY21) against a net loss of Rs 12,700 crore in FY20 due to lower revenues and high fixed costs, according to ICRA. The industry's debt level will increase to Rs 50,000 crore (excluding lease liabilities) over FY 2021-22 and the industry will require an additional funding of Rs 35,000 crore to 37,000 crore over FY21 to 23. READ MORE
1:39 PM
RBI strengthens grievance redress framework of banks for better service
The Reserve Bank of India (RBI) has decided to put in place a comprehensive framework to strengthen and improve the efficacy of the internal grievance redress mechanism of the banks and to provide better customer service. READ MORE
1:29 PM
FMCG stocks in focus
1:24 PM
Sensex can hit 51,000 levels in six months, technical charts suggest
Markets continued its record-breaking streak on Friday as the benchmark indices, S&P BSE Sensex and NSE's Nifty, scaled fresh lifetime highs during the day after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 4 per cent and maintained an accommodative policy stance. READ MORE
1:17 PM
MARKET COMMENT :: Jyoti Roy - DVP- Equity Strategist, Angel Broking
The RBI, in its bi monthly MPC meeting, left the key repo and reverse repo rates unchanged at 4.0% and 3.35%, respectively. The RBI has also maintained its accommodative stance and has decided to look through higher inflation.
The RBI has also upgraded their GDP growth estimates for FY21 to -7.5% from earlier -9.5% given strong pick up in economic growth over the last few months.
Though inflation is expected to remain somewhat elevated over the next few months, the RBI has decided to look through it and rates are likely to remain at current levels for the foreseeable future. While further rate cuts may be ruled out, given elevated inflation levels, the RBI is unlikely to raise rates in the foreseeable future which will provide comfort to the markets.
The spreads between the overnight rate and the 10 year rates remain high at ~180-200 bps as against a normal spread of ~75 bps due to concerns over fiscal deficit.
We believe, though there are unlikely to be any rate cuts in the near future, full transmission of 250bps rate cuts by the RBI so far are yet to happen which can lead to some further easing in lending rates as and when concerns over the fiscal deficit recedes.
The RBI has also upgraded their GDP growth estimates for FY21 to -7.5% from earlier -9.5% given strong pick up in economic growth over the last few months.
Though inflation is expected to remain somewhat elevated over the next few months, the RBI has decided to look through it and rates are likely to remain at current levels for the foreseeable future. While further rate cuts may be ruled out, given elevated inflation levels, the RBI is unlikely to raise rates in the foreseeable future which will provide comfort to the markets.
The spreads between the overnight rate and the 10 year rates remain high at ~180-200 bps as against a normal spread of ~75 bps due to concerns over fiscal deficit.
We believe, though there are unlikely to be any rate cuts in the near future, full transmission of 250bps rate cuts by the RBI so far are yet to happen which can lead to some further easing in lending rates as and when concerns over the fiscal deficit recedes.
1:11 PM
Top losers on the BSE at this hour
12:59 PM
NEWS ALERT :: Govt has invited state govt comments on fixing Covid-19 vaccine prices, says PM Modi
12:58 PM
NEWS ALERT :: Planning to strengthen cold-chain infra for Covid vaccine, says PM Modi after all-party meeting
12:57 PM
NEWS ALERT :: Healthcare workers, senior-citizens to get vaccinated first, says PM Modi
12:57 PM
NEWS ALERT :: Govt working on drawing roadmap of vaccination programme, says PM Modi
12:51 PM
Deepak Jasani :: High inflation amid muted GDP forecast could be a party pooper for markets
Amid the expected policy outcome, the RBI has asked commercial banks to refrain from paying out dividends to shareholders for FY20. The decision makes sense as the outlook with respect to non-performing assets (NPAs) remains uncertain. In this situation, it is better to conserve banks’ capital.Therefore, shareholders won’t mind foregoing their dividends as long as the prices of the shares they hold remain largely intact. READ MORE
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First Published: Dec 04 2020 | 7:48 AM IST
