Sensex up 144pts, Nifty nears 17,600 as RBI pauses hike; realty stocks jump

CLOSING BELL: Shaktikanta Das said the move was only "a pause and not a pivot"

3:43 PM

Broader indices outperform; India VIX dips 5%

3:40 PM

Nifty 50 Losers:: HCL Tech, ONGC, ICICI slip over 1%

3:39 PM

Nifty 50 Gainers:: Bajaj Finance, Adani Enterprises surge over 3%

3:37 PM

Sensex 30 Heatmap:: 17 Gainers v/s 13 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 settles at 17,599, up 42 points

3:33 PM

CLOSING BELL:: S&P BSE Sensex extends winning run to fifth straight day, ends 144 pts up

3:28 PM

RBI to set up portal to search across multiple banks for unclaimed deposits

In order to improve and widen the access of depositors or beneficiaries, it has been decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits. READ MORE

3:13 PM

News Alert:: M&M to launch 40 tractor models under brand name OJA; stock up 1.5%

Mahindra Tractors, part of the Farm Equipment Sector at Mahindra & Mahindra introduced 'OJA' as the new brand name for its new future-ready range of tractors from its most ambitious global tractor program, K2.

3:03 PM

RBI proposes expanding UPI payments to allow pre-sanctioned credit lines

According to Das, the UPI has transformed retail payments in India and its robustness has been leveraged to develop new products and features from time to time. READ MORE

2:54 PM

Anupam Rasayan hits record high; zooms 58% in 2 mths on strong biz outlook

Last month, the company signed LoI worth revenue of $120 million (Rs 984 crore) for the next 6 years with Japanese Chemical company. READ MORE

 

2:44 PM

Fight against inflation far from over: RBI projects FY24 inflation at 5.2%

For the June quarter, the retail inflation is expected to average 5.1%, and rise to 5.4% each in the September and December quarter. READ MORE

2:34 PM

EXPERT ON RBI POLICY:: Pause likely to accelerate the growth momentum in the economy

The market has already seen a 250 basis point increase in repo rates beginning in May 2022. Considering the turmoil in the Western economies and in India, no change in the repo rate is a good decision given the inflationary pressures. This will accelerate the growth momentum in the economy. This will probably also allow firms to effectively stabilise their supply chains and operations.

 

Views expressed by Rajiv Sabharwal, MD & CEO, Tata Capital
 

2:25 PM

News Alert:: Force Motors reports March sales numbers; stock jumps 3%

2:15 PM

Singer India hits 10% upper circuit as Rakesh Khanna takes VC & MD charge

Khanna was the MD & CEO of Orient Electric, a leader in consumer appliances, with revenues of over Rs 2,500 crore. READ MORE

2:07 PM

EXPERT ON RBI POLICY: Unchanged repo rate spells good news for rate-sensitive sectors

Contrary to expectations of 25 bps hike in policy rate, RBI has decided to take a pause in interest rate hikes this time around. However, it has kept the window open for any further action on interest rates depending upon the incoming economic data and any changes in the global macro scenario. Interestingly, the decision to not go for a rate hike is an unanimous decision by members of the Monetary Policy Committee (MPC). Also, for fiscal 2023-24 (FY2024), the projections for real GDP growth rate increased to 6.5 per cent (up from 6.4 per cent earlier and higher than the projections by World Bank and IMF), while the forecast for retail inflation is reduced to 5.2 per cent, as against 5.3 per cent earlier. The overall commentary is also quite positive with expectations of a broad-based growth in the economy with financial stability reflected in the rising forex reserves and current account deficit under control. Markets are reacting positively to the policy with easing of bond yield and upsurge in the interest rate sensitive stocks. We remain positive on equity markets and expect interest rate sensitive sectors like real estate, auto, banks, financials along with engineering/capital goods to lead the rally in the near-to-medium term.

Views expressed by Jaideep Arora, CEO, Sharekhan by BNP Paribas