CLOSING BELL: While an in-line repo rate hike of 50 basis points gave ammunition to the bulls, bears tried to drag the indices as inflation projections were maintained for fiscal 2022-23 (FY23)

Sensex gains 89 pts, Nifty holds 17,350 as RBI hikes repo rate by 50 bps

markets, investor, stock market, broker, trader

<b>CLOSING BELL</b><br />
<br />
<strong>Stock market highlights:&nbsp;</strong>It was a wild ride for the markets on Friday as a hawkish monetary policy by the Reserve Bank of India (RBI) led to a tug of war between bulls and bears. While an in-line repo rate hike of 50 basis points gave ammunition to the bulls, bears tried to drag the indices as inflation projections were maintained for fiscal 2022-23 (FY23) despite three consecutive rate hikes.&nbsp;<br />
<br />
<div>
	Overall, the S&P BSE Sensex oscillated within a band of 405 points during the day, hitting a high of 58,649, and a low of 58,244. The index ended at 58,388, up 89 points or 0.15 per cent. The Nifty50, on the other hand, closed 16 points, or 0.09 per cent, higher at 17,397 levels.&nbsp;<br />
	<br />
	In the broader market, the BSE MidCap and SmallCap indices added up to 0.2 per cent. Among sectors, the Nifty Auto index fell over 1 per cent, bogged down by Balkrishna Industries (down 7 per cent), and M&M (2 per cent). On the upside, the Nifty IT index gained 0.6 per cent.&nbsp;<br />
	<br />
	<strong>Rate sensitive stocks hog limelight</strong></div>
<div>
	Manappuram Finance soared nearly 10 per cent, clocking its biggest intra-day gain in recent times. Meanwhile, shares of State Bank of India were up 1.5 per cent and were seen inching towards a new historic peak; automobile major Bajaj Auto and realty player DLF were trading with modest gains. <a href="https://www.business-standard.com/article/markets/sbi-dlf-bajaj-auto-manappuram-look-good-on-charts-post-rbi-policy-122080500480_1.html" target="_blank"><strong>READ MORE</strong></a><br />
	<br />
	<strong>Covid-era cuts reversed entirely</strong></div>
<div>
	The latest rate action takes the total tally of rate hikes since May to 140 basis points. Accounting for the introduction of the SDF at a higher rate than the reverse repo rate in April, effective rate hikes stand at 180 bps so far in 2022. <a href="https://www.business-standard.com/article/finance/rbi-raises-repo-rate-by-50-bsp-to-5-4-withdraws-accommodative-stance-122080500170_1.html" target="_blank"><strong>READ MORE</strong></a></div>

Business Standard

Sensex gains 89 pts, Nifty holds 17,350 as RBI hikes repo rate by 50 bps | News on Markets - Business Standard

RBI policy impact: Auto stocks under pressure; Nifty Auto down 0.1%

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/16596750664388.png

RBI policy impact: ICICI Bank, IDFC First Bank gain 1%

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/16596749681322.png

RBI Monetary Policy LIVE | Inflationary risks are broadly balanced

RBI Monetary Policy LIVE | Retail inflation projected at 6.7% for FY23

RBI Monetary Policy LIVE | Household inflation expectations eased but still elevated

RBI Monetary Policy LIVE | Global oil prices are expected to soften further

Market Check: Rate-sensitive realty sector shrugs-off 50 bps repo rate hike, reamins firm

Lodha and DLF have gained more than a per cent each, while Godrej Properties, Oberoi Realty and Indiabulls Realestate were the notable gainers.<br />
<br />
<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="343" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/05/full/1659674732-241.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" /></div>
<br />

RBI Monetary Policy LIVE | Real GDP growth projection retained at 7.3% for FY23

RBI Monetary Policy LIVE | Good monsoon, kharif produce suggests robust demand trajectory

RBI Monetary Policy LIVE | Domestic economic activity showing signs of broadening

<div>
	&gt;&gt; Demand indicators suggest improvement in urban demand</div>
<div>
	<br />
	&gt;&gt; Rural demand remains mixed<br />
	&nbsp;</div>
<div>
	&gt;&gt; High Frequency Indicators remained robust in June and July</div>

Market Check: Sensex pares gains as RBI hikes repo rate by 50 bps

RBI Guv: Consumer price inflation has eased, but remains higher than comfort levels

RBI Monetary Policy LIVE | MPC to continue with 'Withdraw of Accommdation' to control inflation

Bank Nifty near highs of the day as RBI starts policy speech

RBI Guv: MPC decides to hike repo rate by 50 bps

RBI Guv: India&#39;s forex reserves provide insurance against global spillover