Market Close Highlights: Sensex ends 50 pts lower at 79,500; Nifty at 24,150; PSB, Oil drag, IT up

Stock Market Highlights: Benchmark Indian equity indices ended in the red for the second straight session on Friday, weighed most by financial and OMC stocks

3:32 PM

Stock Market LIVE Updates: Sensex ends flat with a negative bias

The BSE Sensex closed at 79.486 level, down 55 points or 0.07 per cent.

3:30 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape

Stock Market LIVE Updates: Devina Mehra, Founder Chairperson & Managing Director, First Global, discusses Indian equities in the emerging market landscape at the BS BFSI Insight Summit.

3:28 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Soumya Kanti Ghosh: In my opinion, the RBI rate cut cycle may be delayed and may happen somewhere between February and April 2025 and at best it could be overall a 50 bp cut.

 

3:26 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Sachchidanand Shukla: RBI rate cut may happen in the first quarter of the next calendar year and it will be a shallow rate cut.

 

3:19 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Ila Patnaik: I have always had the view that we should include food in calculating inflation as that is the only measure that has legitimacy with the public even though there is a realisation that the RBI cannot impact seasonal onion prices.

 

3:17 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Sachchidanand Shukla: Once you answer why you should cut rates, it becomes much clearer, by when and how much?

In that context, there is no growth scare. Is growth tanking? The answer is no.

3:14 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Sachchidanand Shukla: Friction will lead to devaluation or depreciating pressure will come on countries that are not in sync with the US economy. It will have implication for monetary policy.

Last time, when Trump came, Yuan fell 5% and 1.5% more when he started announcing tariffs.

3:12 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Soumya Kanti Ghosh: Food inflation has always remained an enigma in the Indian context and it will continue to be like that as climate disturbances have become a part of our day to day lives.

3:11 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Soumya Kanti Ghosh: Rating trade, interest rate, or inflation to the US elections does not hold ground. Historically, from 2014-16 onwards - the dollar rates, US interest rates and other trade has continued to favour. 

Now, most of these numbers have become immune to the global developments and I don't see too much disruption similarly for Indian interests.

 

3:10 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Samiran Chakraborty: To what extend can food inflation can get transmistted to inflation expectation and actual core inflation. Indian data suggests an asymmetric behaviour. 

 

Food inflation getting passed on to core inflation, happens more through urban wages, but not in rural wages.

3:07 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Ila Patnaik: If tariffs come in on China, if there there is inflationary in the US, and expansionary fiscal policy through taxt cuts, then the Fed may slow down on its rate cut cycle

3:05 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Ila Patnaik: Food, growth rate and Fed's action indicate that we need to wait to cut rates.

3:03 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Ila Patnaik: High frequency indicator signals are mixed. Some improving and some are declining. 

3:01 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Ila Patnaik: Food was chosen to be a part of inflation because consumers relate to it. RBI doesn't have direct impact on it. It has more impact in non-food items

2:56 PM

Stock Market LIVE Updates: BS BFSI Insight Summit - Economists discuss Fed or Food?

Stock Market LIVE Updates: Aditi Nayar: Only 50 bps of rate cuts appear feasible in Indian context.

From the Fed, the amount of rate cuts will be far sharper, so there's no question of matching the US Fed.