Sensex slips 215pts amid volatility post repo rate hike; ITC, RIL weigh

The RBI today raised the repo rate to 4.9 per cent, up from 4.4 per cent. The Central Bank also raised consumer price (CPI) or retail inflation forecast for FY23 to 6.7 per cent from 5.7 per cent.

2:03 PM

Global Check:: US futures mildly in red, down up to 0.4 per cent

Source: Investing.com

1:56 PM

S&P BSE Sensex 30 Heatmap:: RIL, ITC, Bharti Airtel are the major losers

1:44 PM

RBI monetary policy review: Clear direction given by credit policy

The RBI MPC pitched for a high number of 50 bps, which is significant because if combined with the forecast on inflation indicates that there will be more repo rate hikes coming. READ MORE

1:37 PM

Market Check:: S&P BSE Sensex slips back into red, down over 200 points

1:32 PM

Expert view on RBI Policy:: Banking sector is our top pick

The market and rate-sensitive stocks & sectors should not be dampened by the strong rate hike of 50 bps as it is in line with the elevating inflation scenario and accordingly equities have been consolidating during the year.

 

On the bright side, there are some points of ease such as no increase in CRR, economic growth being maintained healthy at 7.2 per cent and no additional measures announced to reduce the liquidity of the banking system.

 

However, companies which are heavily leveraged will be impacted on a medium-term basis due to the interest rate rising cycle.

 

The banking sector, being neutral to rising interest rate cycle for a growing economy is our top recommendation, coupled by factors like robust credit growth, lower stress, strong liquidity position and attractive valuation.

 

Views of Vinod Nair, Head of Research at Geojit Financial Services.
 

1:24 PM

RBI rate hike may see rate sensitive stocks bottom out. Time to buy?

Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels. Read more

1:15 PM

Housing sales may dip on likely rise in home loan interest rate: Experts

The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. Read more

1:04 PM

Expert view on RBI's digital payment measures

RBI’s statement on Developmental and Regulatory Policies has touched upon all critical aspects in online and offline payments space that are fueling the growth in digital payments across different consumer sets. 

 

Today’s announcement to enhance the limit of e-mandates on Cards for Recurring Payments from Rs. 5000 to Rs 15000 is a welcome move as it will not only benefit consumers to set mandates for multiple categories of payments but also include more players from insurance, education and loan sectors. 

 

UPI today is by far the most popular payment options for consumers online. The RBI has offered an innovate solution to permit linking of credit cards to UPI platform. This will not only encourage consumers to continue making payments via UPI but also provide them benefit of short term credit that credit cards extend. 

Views by Ramesh Narasimhan, CEO, Worldline India.

 

12:57 PM

RBI Das: Have strong forex reserves in case deficit widens

Normal inflows will ensure the financing of capital account deficit. 

12:52 PM

RBI Das: Exports on the rise; CAD expected to remain at sustainable levels

12:51 PM

RBI Patra: Liquidity surplus is there; credit offtake not being hindered by actions on liquidity

12:49 PM

RBI Das: Bank credit picking up; rural, urban demand seen firming

12:47 PM

RBI Das: Remain constantly engaged with Centre on crypto

12:45 PM

RBI Patra: Central bank to keep working till inflation reaches target range

12:39 PM

RBI presser: Customer demand will be met with housing loan limit measure