Sensex dips 132 pts as RBI cuts FY22 GDP growth; Nifty ends below 15,700

That said, market participants continued to buy stocks in the broader markets after the RBI announced a special, Rs 15,000 crore-liquidity window

10:15 AM

RBI POLICY OUTCOME :: The intensity of Covid second wave more severe, says Shaktikanta Das

With this, the MPC's focus is shifting from systematic liquidity to its equitable distribution

10:13 AM

RBI POLICY OUTCOME :: Shaktikanta Das says

>> CPI inflation is projected at 5.1% in FY22

>> 5.2% in Q1; 5.4% in Q2; 4.7% in Q3; and 5.3% in Q4 with risks broadly balanced

10:13 AM

RBI POLICY OUTCOME :: Shaktikanta Das says

>> Upside risks to inflation persist from second wave, restriction in activity

10:11 AM

RBI POLICY OUTCOME :: Shaktikanta Das says

>> With external demand strengthening, a rebound in global trade is taking hold
 

>> This should support India's export sector

10:11 AM

RBI POLICY OUTCOME :: FY22 real GDP seen at 9.5%, says Shaktikanta Das

>> Rural demand is expected to remain strong going-forward on the back of a normal monsoon

10:09 AM

RBI POLICY OUTCOME :: Shaktikanta Das says

>> 2nd Covid wave associated with a higher morbidity rate

 

>> Unlike in the first wave, impact on economic activity relatively contained in Wave II

 

>> People and businesses are adapting to pandemic related restrictions

10:09 AM

MARKET CHECK :: Sensex hits day's high

10:07 AM

RBI MPC meet LIVE :: Shaktikanta Das says

>> To maintain accommodative stance as long as necessary to revive and sustain growth 

10:07 AM

RBI POLICY OUTCOME :: Shaktikanta Das says

>> Forecast of normal monsoon, the resilience of farm economy, gathering global economic recovery can provide tailwind to the domestic economy as COVID 2.0 recedes

 

10:06 AM

RBI MPC meet LIVE :: Shaktikanta Das says

>> Data suggests India's FY21 GDP contracted 7.3%

>> The spread of Covid infections in rural areas and dent of consumption demand in urban areas post downside risk

>> The rising crude prices is worsening economic conditions

10:03 AM

RBI MPC meet LIVE :: Shaktikanta Das says

>> MPC keeps repo rate unchanged at 4%

>> MPC continues with 'accommodative' stance 

10:03 AM

Larsen & Toubro rallies 15% in a month, nears record high

Shares of Larsen & Toubro (L&T) were up 2 per cent at Rs 1,538 on the BSE in intra-day trade on Friday in an otherwise range-bound market. The stock of the construction & engineering major was trading at its highest level since March 12, 2021. It was hovering close to its all-time high level of Rs 1,593 touched on February 2, 2021. The S&P BSE Sensex was up 0.10 per cent at 52,282 points at 09:25 am. READ MORE

10:02 AM

Sector Watch :: Nifty Bank flat ahead of RBI outcome

9:49 AM

MORNING MARKET COMMENTARY :: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Two features of the market rally this year stand out: One, the rally has been steady with surprising lack of volatility; two, the broader market has been outperforming significantly. While the Nifty is up 12.22% YTD the Nifty Mid & Small-cap indices are up by 26.48% & 33.20% YTD respectively. The spectacular performance of many mid-small-cap firms in Q4 FY21 and positive commentaries by managements have created lot of interest in these segments. Active retail participation in the broader market also is a significant factor contributing to the exuberance. A disturbing aspect in this broader market rally is the retail investors buying low-grade small-cap stocks driven by the FOMO (Fear Of Missing Out) factor. Investors have to exercise caution.

 

Today's monetary policy announcement is unlikely to impact markets since it is likely to keep repo rate unchanged while continuing with the accommodative stance. However, some unconventional policy initiatives can be expected.

 

Market moving data is likely to come from the US job numbers expected today. US jobs data has implications for inflation, bond yields, Fed's likely policy moves and hence for financial markets globally

9:44 AM

NEWS ALERT :: RailTel bags new order worth Rs 120 crore

RailTel Corporation of India Ltd has received the work order of total amount of Rs. 119.72 crore (Including GST) from Bharat Coking Coal Limited (BCCL), for Implementation of MPLS-VPN services alongwith Miscellaneous services at 340 locations of BCCL for the period of 60 months (5 years).