Sensex falls 215 pts post RBI policy; Nifty at 16,238; RIL sheds 2%

Stock market LIVE: The RBI pegged real GDP growth forecast for FY22 at 9.5 per cent and at 17.2 per cent for FY23.

9:21 AM

Advance-decline ratio in favour of buyers in opening trade

Source: BSE

9:20 AM

Buying returns to broader market; BSE Smallcap beats Sensex

9:19 AM

OPENING BELL :: Nifty holds 16,300

9:18 AM

OPENING BELL :: Sensex rises 40 points

9:07 AM

COMMODITY CHECK

9:07 AM

Sensex Heatmap | Top gainers & losers in pre-open trade

9:06 AM

Nifty50 edges lower in pre-open session

9:04 AM

Pre-open session :: Sensex rises over 100 points

9:02 AM

MARKET VOICE :: Removal of retro tax will send positive signal to foreign investors

Retrospective actions are always retrogressive, and this is a correction required in the Indian tax system. While Cairn and Vodafone are lingering issues involving large amounts of money of around Rs 20,000 crore-Rs 30,000 crore put together. The fact that the Cairn deal was in 2006 just reveals how anachronistic are these laws. In case of Vodafone, the Supreme Court had also ruled in favour of the company, but the retro rule, pushed it back. READ MORE

Madan Sabnavis

8:55 AM

Top stocks to watch today

Cipla: The company posted a 24 per cent growth in profit after tax (PAT) to Rs 715 crore for the June quarter riding on strong revenue growth in the India business as well as in the active pharmaceutical ingredients (API) business.

 

Indiabulls Housing Finance: The company reported a marginal 3.3 per cent growth in its profit after tax at Rs 282 crore for the first quarter ended June 30, helped by a lower cost of funds.

 

Rate sensitive stocks: Stocks from banking, real estate and auto sectors will be in focus amid the RBI policy outcome later today. READ MORE

8:52 AM

MARKET VOICE :: Retrospective tax was indefensible; burying it shows pragmatism

Vodafone appealed and the Supreme Court did the right thing by setting aside the order of the Bombay High Court. This then led to the infamous retrospective tax amendment.

 

A point is often missed in this entire imbroglio: capital gains tax are levied on the person receiving the capital gains and not on the person paying out the capital gains. This point should be obvious to everybody. The bizarre thing is that Vodafone was the buyer and Hutch was the seller of the shares of the overseas company, which held the local Indian company. The capital gains had accrued to Hutch, and not to Vodafone.READ MORE

Shankar Sharma

8:45 AM

Beyond rates: Five things to watch out for in RBI's monetary policy

Most economists expect the monetary policy committee (MPC) of the Reserve Bank of India (RBI) to keep the repo rate unchanged for the seventh time straight and continue with an accommodative stance after a review meeting ending Friday. That being likely the market will want to know the central bank’s thinking about the economy in the coronavirus pandemic. READ MORE

8:42 AM

Here's what you can expect from RBI's Monetary Policy

8:37 AM

Bull Spread strategy on JSW Steel

Rationale:
 

- We have seen a long build up in the JSW steel Futures, where we have seen 2%(Prov) rise in the Open Interest, with the price rising by 2.50%.

- The stock price has broken out on the daily line chart with higher volumes to close at all-time high levels. READ MORE

8:34 AM

Three stock ideas by Osho Krishan of Anand Rathi

BUY LAURUS LABS LTD | TARGET: Rs 718 | STOP LOSS: Rs 632

 

LAURUSLAB has seen resurgence from the lower band of the Bollinger (20, 2) that has been backed by robust volumes indicating strong nearby support. The stock is primarily in an uptrend and maintains the cycle of higher highs higher lows on all time frames. At the current juncture, it has witnessed a sloping trend-line breakout in the last trading session and the placement of the counter that is above all the major exponential moving averages in the daily chart makes it quite lucrative to accumulate from a short to medium-term time frame. READ MORE