Nifty Bank fell over half a percent post policy announcement: Top gainers and losers##Nifty Bank fell over half a percent post policy announcement: Top gainers and losers

Apr 4, 2019 3:45 PM

Sectoral Trend: IT, banking indices dragged the markets, auto gained##Sectoral Trend: IT, banking indices dragged the markets, auto gained

Apr 4, 2019 3:44 PM

Top Nifty gainers and losers: IT stocks fell the most during the day##Top Nifty gainers and losers: IT stocks fell the most during the day

Apr 4, 2019 3:42 PM

Closing Bell: Sensex, Nifty ends lower post RBI policy outcome; banks, IT stocks drag indices##Closing Bell: Sensex, Nifty ends lower post RBI policy outcome; banks, IT stocks drag indices

Indian shares ended lower on Thursday with Nifty breaching 11,600 levels after the Reserve Bank of India cut repo rate by 25 bps to 6 percent, in a widely expected move. The central bank kept its monetary policy stance 'neutral' despite subdued inflation. Losses in IT, banking and metal sectors were capped by gains in auto and pharma space.

The S&P BSE Sensex ended at 38,684, down 192 points, while the broader the NSE Nifty50 settled at 11,598, slipping 46 points. Broader markets were in-line with frontline indices with Nifty Midcap and Nifty Smallcap indices falling 0.2 and 0.4 percent, respectively. Indiabulls Housing Finance, Zee, Ultratech Cements, Tata Motors, and Britannia were top gainers on Nifty, while TCS, Hindalco, HCL Tech, Yes Bank, and BPCL fell the most.

The Nifty Bank fell over half a percent post the policy announcement. IndusInd Bank, RBL Bank, Yes Bank Punjab National Bank and Kotak Bank were down in the range of 1-2.5 percent. All banking indices were negative for the day with Nifty PSU Bank and Nifty Private Bank indices sliding 0.3 and 0.7 percent, respectively. Among other rate-sensitive sectors, auto index was up 0.5 percent, while the realty was flat.

Apr 4, 2019 3:36 PM

Fitch affirms India rating at BBB-, says India's robust growth outlook continues to support it's credit profile##Fitch affirms India rating at BBB-, says India's robust growth outlook continues to support it's credit profile

Apr 4, 2019 3:25 PM

Indian companies squeezed as inflation falls but interest rates remain high

The rise in India' real interest rates will be a major headache for whoever wins India's general election which lasts from April 11 to May 19Get latest Business online at cnbctv18.com

Apr 4, 2019 3:17 PM

Global Markets: Stocks stall on trade jitters, German economy angst##Global Markets: Stocks stall on trade jitters, German economy angst

European and Asian shares stepped back from eight-month highs on Thursday, as investors took money off the table amid fresh concerns about US-China trade talks and as dire data from Germany signalled trouble for Europe.

Germany’s figures showed industrial orders fell at their sharpest rate in more than two years in February, driven largely by a slump in foreign demand.

MSCI’s broadest index of Asia shares also lost 0.4 percent overnight after five straight days of gains had taken it to the highest level since late August. Losses were led by Australia and New Zealand while Hong Kong, the Philippines and Indian markets were also in red. Chinese shares were firmer with the blue-chip index up 0.6 percent while Japan’s Nikkei paused near a recent one-month top.

Apr 4, 2019 3:07 PM

Polycab India IPO to open on April 5: Key things to know##Polycab India IPO to open on April 5: Key things to know

Polycab India, the largest maker of cables and wires in the country, will launch its initial public offering (IPO) on April 5. The price band of the IPO is Rs 533-538 per share and the lot size is 27 shares. Post the issue, the promoters will hold 68.70 percent stake while the remaining will be held by the public.

The company is offering equity shares worth about Rs 400 crore and offer for sale (OFS) of 1.76 crore shares. The quota for employees has been fixed at 1,75,000 shares and they will be given a discount of Rs 53 per share. READ MORE

Apr 4, 2019 2:50 PM

Market trades at day's low; Nifty Bank slips more than 400 points from day's high##Market trades at day's low; Nifty Bank slips more than 400 points from day's high

Apr 4, 2019 2:34 PM

Rate-sensitive stocks trade mixed post policy announcement; banks flat, auto gain

Rate-sensitive stocks were trading mixed after the Reserve Bank of India cut repo rate by 25 bps to 6 percent on Thursday, in a widely expected move to boost the economy.

Apr 4, 2019 2:16 PM

Central Bank cuts GDP growth forecast to 7.2% from 7.4%##Central Bank cuts GDP growth forecast to 7.2% from 7.4%

The Reserve Bank of India on Thursday lowered its economic growth forecast to 7.2 percent for the FY 20, from the February view of 7.4 percent amid probability of El Nino effects on monsoon rains and uncertain global economic outlook. In its February monetary policy statement, the central bank had projected the GDP growth for 2019-20 at 7.4 percent -- 7.2-7.4 percent in first half of the fiscal (April-September).

Sluggish private investment and a weakening rural economy pulled India's economic growth down to 6.6 percent in the December quarter, its slowest in five quarters, while the unemployment rate hit multi-decades high. READ MORE

Apr 4, 2019 1:59 PM

Rajesh Narain Gupta, Managing Partner at SNG & Partners on RBI Policy##Rajesh Narain Gupta, Managing Partner at SNG & Partners on RBI Policy

"The repo rate cut by the RBI, in its first bi-monthly policy announcement in FY20, has been a long expected lines. The rate cut roll-out has been guided by a benign retail inflation, domestic economic growth remaining tepid and global economic activity lacking pace. The measure is largely seen as positive which is expected to ease liquidity in the economy. With the domestic economy facing crucial headwinds, the move to reduce the repo rate is seen as a move to boost domestic consumer sentiment and urge the private sector to bolster investment which has largely been stagnant. Going ahead, the government will need to maintain a cautious outlook on the economy with predictions of a lower-than-normal monsoon and global trade volatilities"

Apr 4, 2019 1:43 PM

Rupee extends losses after the #RBIPolicy; the currency has now breached 69/$ mark falling around 60 paise##Rupee extends losses after the #RBIPolicy; the currency has now breached 69/$ mark falling around 60 paise

Apr 4, 2019 1:25 PM

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Service on RBI policy##VK Vijayakumar, Chief Investment Strategist at Geojit Financial Service on RBI policy

"The MPC has lived up to the consensus by cutting rates by 25 bp while continuing with the neutral policy stance. A key takeaway from the policy is the projection of benign inflation for FY 2020 which has come lower than expectations between 2.9 to 3 percent for H1 and between 3.5 to 3.8 percent for H2. The stance has been maintained at neutral perhaps in the context of the rising crude price and concerns regarding a below normal monsoon. Since this important event is behind us, the market trend, going forward, will be influenced by the capital flows into the market. So long as the Fed and ECB remain dovish, more flows can be expected into the market, which can impart resilience to the market. However, high valuation of markets remain an area of concern."

Apr 4, 2019 1:12 PM

RBI Monetary policy: Central bank cuts inflation forecast to 2.9-3% for H1 FY20##RBI Monetary policy: Central bank cuts inflation forecast to 2.9-3% for H1 FY20

The Reserve Bank of India on Thursday cut the retail inflation forecast to 2.9-3 percent for the first half of current fiscal, mainly due to lower food and fuel prices as well as the expectation of a normal rainy season. The RBI has reduced the key policy rate by 25 basis points to 6 percent.

The inflation path during 2019-20 is likely to be shaped by several factors. First, low food inflation during January-February will have a bearing on the near-term inflation outlook. Second, the fall in the fuel group inflation witnessed at the time of the February policy has become accentuated, RBI said in its first bi-monthly monetary policy for 2019-20. READ MORE

Apr 4, 2019 12:56 PM

Load more