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.

10:09 AM

RBI Policy LIVE :: Repo rate remains below pre-pandemic levels, says Guv Das

10:08 AM

RBI Policy Impact:: Rupee strengthenes a wee bit versus USD post rate hike

The near-month USDINR contracted was seen strengthening by 16 paise versus the prevsious close after RBI announced a 50 bps rate hike.

10:07 AM

MARKET CHECK: Sensex sheds over 350 points as repo rate hiked by 50 bps

10:07 AM

RBI Policy LIVE :: Inflation pressures are broad-based, says Guv Shaktikanta Das

>> MPC noted that inflation will remain above 6% during first three quarters of FY23

10:06 AM

RBI Policy LIVE :: War is turning out to be a dampener for global growth and trade

>> Equity, bond markets facing volatility

>> Currencies of emerging markets depreciating

10:04 AM

RBI Policy LIVE :: Our approach indicates move towards normal policy in a gradual manner, says Das

10:04 AM

RBI Policy LIVE :: MPC decides to increase repo rate by 50 bps to 4.9%

>> MPC remains focussed on withdrawal of liquidity

10:03 AM

RBI Policy LIVE :: Ukraine war has globalised inflation

>> Emerging markets are bearing the brunt more

>> India has remained relatively resilient

>> Economic recovery has remained steady

>> Large part of inflation is primarily due to supply disruptions due to war

10:01 AM

RBI Policy LIVE :: Guv Das begins address

10:00 AM

RBI Policy LIVE :: Shaktikanta Das to announce interest decision shortly

9:58 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> Up to 50 bp rate hike by the RBI is already discounted by the market and, therefore, the central bank's guidance on inflation and rates will be more important.

>> Inflation for FY23 is likely to be around 6.8% forcing the RBI to sound hawkish.
 

>> For the market, more important than today's policy announcement would be the US inflation data to be released on Friday. If the US inflation print comes higher than expected, markets will start discounting a more aggressive Fed and this can cause sharp market correction.

>> On the other hand, if the data indicate inflation peaking and potentially drifting down, the US market will bounce back providing a lift up for global markets.

>> One predictable trend in India is that FPIs will continue to sell on every rally.

9:55 AM

India's 10-year bond yield up at 7.53% ahead of RBI's policy stance

9:52 AM

MARKET CHECK: Nifty50 slips below 16,400 ahead of RBI's rate action

9:49 AM

RBI likely to raise interest rate by 25 bps-50 bps today: Experts

RBI Governor Shaktikanta Das has already indicated that there may be another hike in the repo rate though he refrained from quantifying it. READ HERE

9:45 AM

Key trading levels to watch out on MCX Crude Oil, Natural Gas futures

The MCX Natural Gas futures are likely to trade with a bullish bias for the remainder of the week as long as prices sustain above Rs 709.50. READ HERE