Sensex falls 216 pts, Nifty below 18,600 on RBI's moderately hawkish policy

CLOSING BELL: The central bank increased repo rate by 35 basis points and lowered GDP growth forecast for FY23 to 6.8 per cent as it remained cautious of a sticky core inflation amid global turmoil

9:18 AM

Opening Bell :: Nifty down less than 10 pts

9:17 AM

Opening Bell :: Sensex starts with a mild uptick

9:10 AM

Pre-Open session :: Nifty little changed

9:06 AM

Pre-Open session :: Sensex down 100 pts

9:04 AM

Currency check :: Rupee opens lower for third day

>> INR trades at 82.66/$ vs Tuesday's close of 82.62

9:00 AM

ALERT :: China November Trade balance at $69.84 billion vs estimate of $78.05 billion

>> China November imports down 10.6% YoY vs estimate of 7.1%

>> Exports down 8.7% YoY vs estimate of 3.9% in Dollar terms

8:57 AM

ALERT :: GMR Airports - NIIF partner to invest in three airports

>> GMR Airports Limited and NIIF (National Investment and Infrastructure Fund) announce a financial partnership for NIIF to invest in the equity capital of three airport projects.

>> These include the greenfield international airports at Mopa, Goa and Bhogapuram, Andhra Pradesh.

>> The transaction envisages NIIF making a primary investment of Rs 6.31 billion in the form of Compulsory Convertible Debenture (CCD) in GMR Goa International Airport Limited (GGIAL), a special purpose vehicle to run and operate the New Goa Airport.

8:52 AM

Gold, silver rates fall in early trade; yellow metal trading at Rs 53,780

In Delhi, 24-carat and 22-carat gold was trading at Rs 53,930, and Rs 49,450, respectively. In Chennai, 10 grams of 24-carat and 22-carat gold was trading at Rs 54,650 and Rs 50,100. READ MORE

8:49 AM

Vinay Rajani recommends Buy on Avadh Sugar, Shree Digvijay Cement

BUY Avadh Sugar

 

Target: Rs 583

 

Stop Loss: Rs 511

 

The stock has surpassed the crucial resistance of its 200-day EMA on closing basis. The resistance is taken out with jump in volumes. Sugar Sector has started outperforming after long time. Indicators and oscillators have turned bullish on daily and weekly charts. READ MORE

8:46 AM

RBI MPC meet LIVE: Guv Das to announce bi-monthly monetary policy at 10 AM

While the RBI hiked the repo rate by 40 bps in the May MPC meeting, after that, the central bank increased the key interest rate by 50 basis points three times, in June, August, and September. India's retail inflation in the month of October stood at 6.77 per cent, softening from 7.79 per cent in September. TRACK LIVE UPDATES

 

8:40 AM

RBI Monetary Policy: Expect 35 bps repo rate hike today, say experts

"Amidst signs of easing inflation and economic growth tapering, there is an expectation that the MPC will go for a moderate interest rate hike to the tune of 25-35 basis points," Manish P Hingar, founder at Fintoo, said. READ MORE

8:37 AM

RBI set to raise rates today; outlook on growth, inflation in focus

A strong two-thirds majority in a Reuters poll said it was still too soon for the central bank to take its eye off inflation, which slowed to 6.77% in October but has stayed above the upper end of the RBI's 2-6% tolerance band all year. READ MORE

8:36 AM

Stocks to Watch: HDFC AMC, Voda Idea, IDBI Bank, Bikaji, Axis, ICICI Bank

HDFC AMC: The company’s promoter, abrdn Investment Management, will sell its entire 10.2 per cent stake in the company and cease to be a co-sponsor of HDFC Mutual Fund. In August, abrdn had divested 5.58 per cent stake in HDFC AMC for over Rs 2,300 crore through an open market transaction.

 

Vodafone Idea: Signaling further trouble, the debt-ridden teleco's fundraising has been put on hold as government delays equity call. This comes in the midst of a group-level crisis at Vodafone, the Newbury (Berkshire)-headquartered partner of the Aditya Birla group in Vi. READ MORE

8:32 AM

FIIs, DIIs turn net sellers on Tuesday

>> FIIs sold equities worth Rs 635.35 crore

>> DIIs sold equities worth Rs 558.67 crore

8:30 AM

Currency check :: Rupee hits 1-month low, slides below 82/$-mark