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

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)

10:05 AM

RBI Monetary Policy LIVE | Indian economy has been impacted by globalc economic situation

RBI Guv:  Financial markets have been uneasy despite intermittent corrections

 

RBI Guv: India is expected to remain one of the fastest growing economies in FY23

 

10:04 AM

RBI Monetary Policy LIVE | Pandemic, war to pose long-term challenges to growth

10:03 AM

RBI Monetary Policy LIVE | Emerging Market economies facing reserve losses, currency risks

10:03 AM

RBI Monetary Policy LIVE | IMF has lowered global growth, flagged recession fears

 

 

10:02 AM

RBI Das begins monetary policy announcement address

9:51 AM

VIEW | Shriram Housing MD expects RBI to shift policy stance to neutral

The MPC in its August policy announcement is likely to hike rates upward of 35 bps, however, I don’t anticipate a jumbo-sized hike like other major central banks namely US Fed or ECB.

This is because in the absence of any fresh shocks, economic conditions in India have marginally improved and therefore an aggressive rate path is not warranted.

In fact, any supersized hike in repo rate will go against the palpable recovery in productive sectors like housing and construction which have the highest forward and backward linkages in the economy.

The inflation trajectory is above the RBI’s comfort level of 4% (+/-2%). Therefore, the MPC will opt for interest rate increases in smaller doses till the general price level falls within the RBI’s comfort band.

Such guidance will temper the future rate hike concerns and soothe the nerves of the market. Also, I expect MPC to shift its policy stance from 'calibrated tightening’ to `neutral’ in its forthcoming resolution.

Views by Ravi Subramanian, MD & CEO, Shriram Housing Finance

9:44 AM

COMMENT :: 'RBI rate action unlikely to impact markets'

RBI rate action today is unlikely to impact markets. The most likely scenario of a 30 to 35 bp rate hike is already known and discounted by the market. Market will be looking forward to the RBI's commentary on inflation, GDP growth for FY23 and other macros like CAD.

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:44 AM

Container Corp soars 3% on reporting 17% YoY rise in profits

 

9:43 AM

Among rate-sensitives' auto sector sole loser ahead of RBI mandate

The Nifty Auto index was mildly in red, down 0.1 per cent dragged by Maruti, MRF and Hero MotoCorp.

9:40 AM

PSU banks perk up in trade ahead of RBI monetary policy

 

9:36 AM

Crompton Greaves sheds over 3%; equity worth Rs 808 cr changes hands

 

9:34 AM

MARKET CHECK: Sensex extends gains; adds over 200 points

 

9:32 AM

GAIL slips 3% as investors book profits after robust Q1 nos

 

9:31 AM

Rate-sensitive realty sector logs notional gains in opening deals

DLF, Godrej Properties and Prestige Estates were the notable gainers, while Brigade Enterprises slipped over a per cent.

9:28 AM

Nifty losers: Apollo Hospital, Auto majors, ONGC additional laggards