Closing Bell: Sensex ends 433 points lower, Nifty below 11,200 as RBI lowers growth forecast; Zee down 6%##Closing Bell: Sensex ends 433 points lower, Nifty below 11,200 as RBI lowers growth forecast; Zee down 6%

- Indian stocks erased morning gains to end over 1 percent lower on Friday after the Reserve Bank of India (RBI) reduced FY20 GDP growth target to 6.1 percent from 6.9 percent.

- In the bi-monthly monetary policy, the RBI cut repo rate by 25 bps for the fifth time this year as expected, in a bid to boost growth the economy.

- The Sensex ended 433 points lower at 37,673, while the broader Nifty50 index lost 139 points to end the day at 11,175. Both indices have fallen 3 percent for the week.

- ONGC, Wipro, TCS, Infosys, and Tech Mahindra were the top gainers on the Nifty50 index, while Zee, UltraTech Cement, Grasim, JSW Steel and Titan led the losses.

- All sectoral indices, except Nifty IT, ended lower for the day. The banking indices underperformed benchmarks with Nifty Bank and Nifty Private Bank down over 2 percent each, while Nifty PSU Banks lost 1.6 percent and Nifty Fin Services shed 1.9 percent.

Oct 4, 2019 3:38 PM

Lakshmi Vilas Bank nears 10-year low on RBI's PCA move##Lakshmi Vilas Bank nears 10-year low on RBI's PCA move

Shares of Lakshmi Vilas Bank continued to remain under pressure as they were locked in lower circuit again, trading near 10-year low after the RBI initiated prompt corrective action (PCA) plan against the lender.

Oct 4, 2019 3:23 PM

RBI Monetary Policy: What experts say about interest rate decision

The Reserve Bank of India has cut the benchmark lending rate for the fifth time this year in order to revive the ailing economy.

Oct 4, 2019 3:11 PM

Most auto stocks will give good returns over 6-12 months, says Carnelian Capital’s Vikas Khemani##Most auto stocks will give good returns over 6-12 months, says Carnelian Capital’s Vikas Khemani

Most automobile stocks, from a trading perspective, will give good returns over the next 6-12 months, said Vikas Khemani, founder of Carnelian Capital Advisors. He, however, added, "The only question we still do not have an answer to is will auto stocks get those kinds of valuations as they would get in the past given some of the structural headwinds or disruption risk?" Khemani said this is the right time to put money into the market. "Risk reward is in favour but risk perception is very negative right now, which is incrementally getting better." READ MORE

Oct 4, 2019 2:52 PM

Mahindra to lower vehicle development cost by 30-35% through Ford joint venture

The joint-venture between Mahindra & Mahindra (M&M) and Ford Motor Company, in which Ford India has transferred its assets to Mahindra & Mahindra to operate, was long-anticipated.Get latest Auto online at cnbctv18.com

Oct 4, 2019 2:33 PM

Info Edge climbs 6% on Zomato's $600mn fund-raising plan##Info Edge climbs 6% on Zomato's $600mn fund-raising plan

Shares of Info Edge India gained nearly 6 percent intraday after a media report talked about a fund raising plan from Zomato. "Online food delivery and restaurant discovery platform Zomato is finalising a fresh $600-million round of fundraising likely to be led by existing Chinese investor, Ant Financial," The Economic Times said quoting people in the know.

Oct 4, 2019 2:15 PM

Quote of VK Vijayakumar Chief Investment Strategist at Geojit Financial Services on RBI Policy##Quote of VK Vijayakumar Chief Investment Strategist at Geojit Financial Services on RBI Policy

"The big takeaway from the extremely accommodative monetary is that the central bank and the government are in sync on the policy response to revive growth. The MPC’s view is that there is further policy space for accommodation to revive growth clearly indicates that more rate cuts are in the offing. Eventually the repo rate is likely to settle at 4.75 percent in this rate cut cycle. This is good news for the markets even though the markets are concerned about the issues in the NBFC and housing finance space," Vijayakumar said.

Oct 4, 2019 1:55 PM

Here are some trading strategies from stock analysts Mitessh Thakkar & Pritesh Mehta

The latest analysis and commentary by stock market gurus Mitessh Thakkar of mitesshthakkar.com and Pritesh Mehta of Yes Securities on what is moving the markets today.

Oct 4, 2019 1:37 PM

Here's a quick roundup of all the market action today##Here's a quick roundup of all the market action today

- The benchmark indices pared morning gains to trade lower after RBI reduced FY20 GDP growth target to 6.1 percent from 6.9 percenty. The Sensex is trading 250 points lower, while the Nifty50 index is trading below 11,250.

- Financials weighed on the indices with Kotak Bank, HDFC Bank, and ICICI Bank down between 1.5-3.5 percent.

- Meanwhile, Zee also fell 3% after global brokerage firm Morgan Stanley cut its target price for the stock by 33 percent to Rs 248.

- The big takeaway from the extremely accommodative monetary is that the central bank and the Government are in sync on the policy response to revive growth. The MPC’s view that there is further policy space for accommodation to revive growth clearly indicates that more rate cuts are in the offing, said VK Vijayakumar Chief Investment Strategist at Geojit Financial Services.

Oct 4, 2019 1:20 PM

The RBI Governor says efforts are on to ensure that another large NBFC does not default##The RBI Governor says efforts are on to ensure that another large NBFC does not default

Oct 4, 2019 1:02 PM

India's Financial Services: Trust deficit, truth, and dare

The events and market reaction of the past few days around some co-operative banks, private sector banks and Non-Bank Finance Companies (NBFCs) serve as a sharp reminder of this inconvenient truth.Get latest Finance online at cnbctv18.com

Oct 4, 2019 12:48 PM

Rate sensitive stocks under pressure post RBI announcement; banks drag most##Rate sensitive stocks under pressure post RBI announcement; banks drag most

Rate sensitive stocks came under pressure on Friday after Reserve Bank of India (RBI) cut repo rate by 25 basis points and reduced FY20 GDP growth target to 6.1 percent from 6.9 percent in its bi-monthly review meeting. While Nifty Bank and Nifty Private Bank indices fell over 1 percent each post the announcement, Nifty Auto turned flat (up 0.2 percent) and Nifty Realty was down 0.5 percent. In comparison, the Nifty was trading -.3 percent or 30 points lower at 11,284.

Oct 4, 2019 12:31 PM

Quote of Ananth Narayan, Professor at SPJIMR on RBI Policy##Quote of Ananth Narayan, Professor at SPJIMR on RBI Policy

"The rate cut is pretty much on expected lines given fiscal deficit concerns. The RBI language is extremely dovish, indicating further rate cut going ahead. On the whole, it was a robust policy from RBI and the correction in the equity market could be due to expectations of 40 bps rate cut. Only change I see is governor Shaktikanta Das ensures that transmission of the rate cut will go through. If he does see bond yields going up, the fiscal deficit is large, then he will do open market operations so that bond market will do behave correctly," Narayan said.

Oct 4, 2019 12:15 PM

RBI cuts repo rate by 25 bps to 5.15%; FY20 GDP growth target to 6.1% from 6.9%##RBI cuts repo rate by 25 bps to 5.15%; FY20 GDP growth target to 6.1% from 6.9%

Oct 4, 2019 12:04 PM

Benchmark indices slip post RBI Policy announcment##Benchmark indices slip post RBI Policy announcment

Oct 4, 2019 12:02 PM

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