Sensex snaps 3-day losing run on RBI policy, rises 412pts up; yields up 2%

CLOSING BELL: The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations

9:18 AM

Opening bell: Sensex advances over 150 points ahead of RBI's policy outcome

9:16 AM

Opening bell: Nifty 50 opens above 17,700 levels

9:13 AM

Tepid start to commodities' trade ahead of RBI Policy outcome

9:10 AM

Pre-open session: Only 3 Sensex stocks in negative territory

9:08 AM

Pre-open session: Sensex advances over 200 points

9:07 AM

Pre-open session: Nifty 50 moves flat above 17,650 levels

9:03 AM

RBI Policy expectation

We believe that RBI in its current MPC may maintain status quo as far as rate actions are concerned. However it may try to give some solution for generating demand for the higher than expected borrowing scheduled for FY‘23. RBI would most probably revise the GDP estimates lower on the current disruptions and raise Inflation forecast at the upcoming Monetary Policy. Market will closely monitor the upcoming Policy for bond supportive measures such as OMO/Operation Twist or extension of Held-to-maturity (HTM) dispensation further beyond March 2023. On the liquidity front, the RBI is expected to continue to absorb liquidity via VRRR auctions

Views by: Prashant Pimple, Managing Director & Chief Investment Officer – Debt, JM Financial Asset Management

9:00 AM

RBI Policy expectation

We expect MPC to change stance from accommodative to neutral. We expect no change in rates. This includes also the reverse repo rate given that the weighted average reverse repo rate in the term auctions (under VRRR) is close to the repo rate (4%). RBI is likely to scale down the growth projection from current 7.8% in FY23. However, inflation projections are likely to be revised upward for FY23 from Feb estimate of 4.5%.

Views by: Dipanwita Mazumdar, Economist, Bank of Baroda

8:56 AM

Bond yield surge threat is only agenda for traders from RBI policy

Traders in India are pinning their hopes on the central bank stepping in to manage bond-market liquidity at this week’s policy review as the market confronts record debt supply. Read here

8:53 AM

RBI to wait at least until August to raise repo rate: Economists

The Reserve Bank of India will delay its first interest rate rise by at least four months to August at the earliest, according to a Reuters poll of economists who said the central bank must now start worrying about inflation. Read more

8:50 AM

WATCH BS SPECIAL: What are equity and bond market investors expecting from RBI policy?

Inflation is soaring, but the RBI had refrained from raising interest rates. Will today's policy meeting be any different? Find out what the markets expect from governor Shaktikanta Das. WATCH HERE

8:47 AM

RBI likely to revise inflation outlook as it extends rate pause: Economists

India’s central bank will likely raise its inflation outlook this week to reflect costlier oil, but leave borrowing costs steady and tap other policy tools it’s used before to support an economy facing new risks to recovery. Read here

8:44 AM

Monetary policy review :: Nudging but not rocking the boat

While the primary source of the rise in inflation forecasts would be “supply side”, the characteristics of inflation embodied in the 3 P’s of persistence, pervasiveness and perception are now demanding the attention of monetary policymakers. READ MORE

8:41 AM

RBI policy :: Rate sensitives to be in focus today

Today's market action would largely depend on the RBI policy meeting outcome. Rate sensitives like banks, automobiles, real estateand real estate financiers will be in focus today. READ MORE

8:36 AM

DIIs buy less than Rs 2,000-cr worth of equities on Thursday