MARKET WRAP: Sensex slips 71 pts as RBI holds repo rate; financials decline

All that happened in the markets today

11:32 AM

IndiGo slumps 4%

11:30 AM

NIfty PSU Bank index trades in the green ahead of RBI monetary policy decision

11:06 AM

Sensex inches higher

11:05 AM

NEWS ALERT | Chief Eco Adviser recommends relaxing FSI to allow construction of higher buildings: CNBC TV18

-- Also, suggests to accelerate completion of 'Housing For All' scheme in urban area

Alert: FSI is Floor Space Index 

11:00 AM

Gayatri Projects up 5% as subsidiary to sell stake in Sembcorp Energy

Shares of Gayatri Projects hit 5 per cent upper circuit at Rs 73.40 on the BSE on Thursday, after its subsidiary Gayatri Energy Ventures Pte Ltd (GEVPL) signed an agreement to sell the remaining 5.96 per cent stake in Sembcorp Energy India Limited (SEIL) to Sembcorp Utilities for Rs 406 crore.

 

According to Gayatri Projects' filing to exchanges, GEVPL will be entitled for future earn-outs "based on achievement of certain milestones by SEIL". READ HERE

10:50 AM

Vodafone Idea slips in trade

10:44 AM

RBI MPC meeting expectation :: Edelweiss Securities

The forthcoming monetary policy review comes against the backdrop of sharp deceleration in economic growth on one hand and rising inflation on the other. Nominal GDP hitting a low of 6% (below 10Y G-sec yield) spells trouble for tax collections, credit growth and debt-servicing.

We anticipate a 25–50 bps rate cut in the forthcoming policy with continued liquidity support. Transmission is beginning to improve and should continue to do so as the credit-deposit ratio eases further.

10:38 AM

RBI MPC meeting expectation :: Nirmal Bang Institutional Equities

We expect the Monetary Policy Committee (MPC) to cut rates by 25bps and maintain its accommodative stance as growth takes precedence, particularly as GDP growth has slipped significantly below 5%. We believe a more aggressive cut is unlikely as headline inflation now stands at around 4.6%, above the RBI’s target mainly on account of higher food inflation. Consequently, we believe the terminal repo rate in this cycle may go as low as 4.5%.

10:28 AM

Balrampur Chini trades near 52-week high; stock gains 6% in two days

The stock is trading close to its 52-week high of Rs 174, touched on September 25, 2019. Besides, it has outpaced the market by surging 15 per cent from its recent low of Rs 142, touched on November 22. In comparison, the S&P BSE Sensex was up 1 per cent during the same period. READ MORE

10:17 AM

I-T crackdown: Brokers, investors come under scanner for fraudulent trades

According to sources, I-T officials on Wednesday conducted surveys and search operations at about 150 locations across the country, including Delhi, Mumbai, Hyderabad, and Kolkata. “We have launched a probe in the matter following information from the market regulator about irregularities in the equity derivative segment,” said a tax official privy to the development. The official added that this was a fresh probe based on the inspection of certain derivative contracts both on the BSE and the National Stock Exchange (NSE). READ MORE

10:10 AM

Hudco slides 9% as two borrowing entities default on repayment dues

Shares of housing finance firm Housing and Urban Development Corporation Ltd (Hudco) were under pressure in the early trade, down 8.6 per cent to Rs 36.9 on the BSE on Thursday, after the company said two of its agencies have defaulted on payment worth Rs 87.46 crore, which has been classified as non-prforming asset (NPA). READ MORE

10:01 AM

MARKET CHECK

9:58 AM

Nifty Metal index is trading lower

9:53 AM

ZEEL gains in early trade

9:48 AM

Hero MotoCorp up 1%