MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Markets ended higher after the RBI maintained neutral stance in its second policy decision of FY19

2:42 PM

Nifty Bank index turms negative post RBI Policy

2:41 PM

Nifty Auto index trades higher post RBI Policy

2:35 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,048.11	+144.90	+0.42
S&P BSE SENSEX 50	11,147.12	+60.80	+0.55
S&P BSE SENSEX Next 50	32,231.45	+256.69	+0.80
S&P BSE 100	10,938.43	+63.71	+0.59
S&P BSE Bharat 22 Index	3,504.54	+31.28	+0.90

2:33 PM

RBI Policy Decision

MSF, Bank rate adjusted to 6.5%

2:32 PM

RBI Policy Decision

MPC keeps stance neutral despite repo rate hike

2:32 PM

RBI Policy Decision

RBI hikes repo rate by 25 bps to 6.25%. First Repo Rate hike since January 2014

Reverse repo rate adjusted to 6% from 5.75%

2:23 PM

Ahead of RBI Policy

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,121.07	+217.86	+0.62
S&P BSE SENSEX 50	11,159.82	+73.50	+0.66
S&P BSE SENSEX Next 50	32,264.74	+289.98	+0.91
S&P BSE 100	10,950.69	+75.97	+0.70
S&P BSE Bharat 22 Index	3,504.38	+31.12	+0.90

2:15 PM

Fed's next rate hike may further rock US bond market

 

The Federal Reserve's next interest rate increase will mark a key milestone as the era of cheap dollars draws to a close, further unsettling a U.S. bond market already rattled by rising inflation and government debt supply.

 

Next Wednesday the U.S. central bank will likely raise key overnight borrowing costs to roughly match its target for inflation, meaning that for the first time in almost a decade the cost of borrowing dollars will no longer be essentially free. READ MORE

2:00 PM

Market Check

S&P BSE Sensex	35,115.15		0.61%
Nifty 50	10,657.80		0.61%
S&P BSE 200	4,605.16		0.71%
Nifty 500	9,172.65		0.68%
S&P BSE Mid-Cap	15,649.38		0.74%
S&P BSE Small-Cap	16,373.73		0.95%

1:45 PM

IndiGo stock continues to languish despite a hike in airfares

 

Despite a hike in air fares through a fuel surcharge, shares of InterGlobe Aviation (IndiGo) continue to languish, falling 23 per cent from its 52-week highs over a month ago. While the move to hike prices by Rs 200-400 based on route length is positive it is not enough to overcome the steep yield declines witnessed in the March quarter.

 

Yields in the March quarter fell 5.5 per cent over the year-ago quarter and 10.5 per cent over the December quarter. READ MORE

1:30 PM

NEWS FLASH Cabinet okays package to bail out sugar mills, sugar MSP at Rs 29/kg

NEWS IMPACT

COMPANY	LATEST	PREV CLOSE	LOSS()	LOSS(%)	VOLUME
SIR SHADI LAL	34.85	38.85	-4.00	-10.30	1043
KESAR ENTERPRISE	31.10	33.65	-2.55	-7.58	25
EMPEE SUGARS	1.72	1.81	-0.09	-4.97	14823
MONNET PROJECT	12.00	12.55	-0.55	-4.38	108
INDIAN SUCROSE	16.05	16.70	-0.65	-3.89	1370
SIMBHAOLI SUGAR	10.20	10.43	-0.23	-2.21	2600
BALRAMPUR CHINI	70.80	72.20	-1.40	-1.94	1122776

 

1:15 PM

PSU banks trade firm ahead of RBI policy decision

 

Shares of public sector undertaking (PSU) banks were trading higher by up to 7% on the National Stock Exchange (NSE) ahead of the Reserve Bank of India (RBI) monetary policy decision, due later in the day today.

 

Allahabad Bank, Union Bank of India, Andhra Bank, Oriental Bank of Commerce, Punjab National Bank (PNB), Syndicate Bank, Bank of India, Canara Bank, Bank of Baroda and State Bank of India (SBI) were up in the range of 1% to 7%. READ MORE

1:00 PM

Govt may need to infuse about Rs 600 bn in PCA banks to shore capital base

 

The markets celebrated when the government approved a capital infusion plan for weak banks last October. Especially, the share prices of those under the Reserve Bank’s (RBI’s) ‘prompt corrective action’ (PCA) ambit rose 15-34 (except for Dena Bank). Of the ~2.1 trillion proposed, the government infused ~900 billion in public sector banks (PSBs) during FY18; a little over 60 per cent was for PCA banks.

 

However, with the recent developments in the sector, these efforts seem insufficient. The 11 PCA bank stocks have been under pressure. READ MORE

12:45 PM

Biocon stock: Rich valuations, regulatory news flow may add to volatility

 

Biocon’s second biosimilar approval, pegfilgrastim (Neulasta), for launch in the US market with partner Mylan, is being seen as a booster dose for the medical industry. However, what came as a shock was the nearly 12 per cent fall in Biocon’s stock price in intra-day trade on Tuesday, in the aftermath of the news of the approval coming in. READ MORE

12:30 PM

WhatsApp leak: Sebi to take action against mkt operators of blue-chip firms

 

Sebi will soon take action against some market operators and senior staff members of about a dozen listed blue-chip firms for their alleged involvement in leak of price-sensitive information through WhatsApp.

 

The companies may also face censure action by the market watchdog for alleged lapses in safeguard mechanism to check leak of unpublished price sensitive information (UPSI), including financial results before they were made public for all investors, regulatory sources said. READ MORE