Equity indices volatile after RBI keeps key rates unchanged
Video Credit: ANI - Duration: 01:10s - Published
Equity indices volatile after RBI keeps key rates unchanged
Equity benchmark indices were volatile with a slight positive bias during early hours on Friday after the Reserve Bank of India's (RBI's) Monetary Policy Committee kept repo rate unchanged at 4 per cent and continue with accommodative stance.
At 10:25 am, the BSE SandP Sensex was up by 113 points or 0.28 per cent at 40,296 while the Nifty 50 gained by 31 points or 0.26 per cent at 11,865.
Except for Nifty FMCG, IT and realty, all sectoral indices at the National Stock Exchange were in the green with thin margins.
The Government of India placed Lakshmi Vilas Bank under moratorium for a month on the advice of the Reserve Bank of India. A limit of Rs 25,000 has been placed on withdrawals by customers. RBI has allowed some exceptions like medical treatment, higher education fees, and marriage, to allow higher withdrawals. RBI cited serious deterioration in LVB's finances for the decision. The central bank has also mooted the merger of the troubled lender with DBS Bank India, the local unit of Singapore's largest bank. Meanwhile, customers are worried about the withdrawal limit, calling it too low. Watch the full video for more.
Credit: HT Digital Content Duration: 02:08Published
The Indian equity benchmark indices opened in the red on Wednesday morning after the Reserve Bank of India (RBI) on Tuesday unveiled a draft scheme to amalgamate private sector lender Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL). At 09:16 am, the 30-scrip BSE Sensex was down by 53.93 points or 0.12 per cent at 43,898.78. Similarly, 50-scrip NSE Nifty was trading at 12,847.55, at 9:16 am, down by 26.65 points or 0.21 per cent.
Addressing a press conference via video conferencing in Jaipur on November 08, Rajasthan Chief Minister, Ashok Gehlot spoke on four years of demonetization. He said, "4 years since demonetization, the farmers, labourers and traders have been destroyed. The rural economy has been shattered completely due to demonetization." "Reserve Bank of India (RBI) itself has said that 99.3% of money has been deposited back with them," CM Gehlot added.
Equity benchmark indices were up with a slight positive bias on Monday ahead of crucial Goods and Services Tax (GST) Council meeting to be chaired by Union Finance Minister Nirmala Sitharaman. At 10:10 am, the BSE S and P Sensex was up by 219 points or 0.54 per cent at 40,728 while the Nifty 50 gained by 67 points or 0.57 per cent at 11,981. Among stocks, ITC rose by 3.78 per cent. Kotak Bank was up by 1.90 per cent and Infosys by 1.74 per cent. However, the stocks trading with a negative bias were JSW Steel, Tata Motors, GAIL, Tata Steel and Heromotocop. Finance Minister Nirmala Sitharaman will chair Goods and Services Tax (GST) Council meeting through video conferencing on Monday. The meeting is scheduled to take place at 4 pm. The Minister is also scheduled to address a press conference on economic issues at 12.30 pm today. On October 5, the GST Council at its 42nd meeting had decided to extend the levy of compensation cess beyond the transition period of five years for such period as may be required to meet the revenue gap
Equity benchmark indices traded firm during early hours on Monday with gains seen in Asian markets on hopes that US President Donald Trump could be discharged from hospital later in the day after responding well to COVID-19 treatment. At 10:15 am, the BSE SandP Sensex was up by 424 points or 1.09 per cent at 39,121 while the Nifty 50 gained by 120 points or 1.06 per cent at 11,537.Except for Nifty auto, all sectoral indices at the National Stock Exchange were in the green with Nifty IT moving up by 3 per cent, private bank by 2.3 per cent and metal by 2.1 per cent. Among stocks, Wipro jumped by 5.5 per cent to Rs 330.25 per share, Tata Consultancy Services by 4.2 per cent, Infosys by 3 per cent, HCL Technologies by 2.1 per cent and Tech Mahindra by 1.6 per cent.The other prominent gainers were Tata Steel, JSW Steel, IndusInd Bank, ICICI Bank and Axis Bank. However, Mahindra and Mahindra, GAIL, ONGC, Asian Paints, Cipla and Bharti Airtel traded with a negative bias.
Reserve Bank of India (RBI), Governor Shaktikanta Das on October 09 informed that repo rate will remain unchanged at 4%."MPC voted unanimously to keep policy repo rate unchanged at 4%. MPC also decided to continue with the accommodative stance of monetary policy as long as necessary at least through the current financial year and next year," said Shaktikanta Das, while addressing a press conference.
Equity benchmark indices opened in the green on Wednesday with Sensex up by 277.40 points and Nifty up by 84.85 points. The domestic stock markets opened on a positive note today, building on the record closing highs registered in the previous session. At 9:16 am, the 30-scrip BSE Sensex was up by 277.40 points or 0.62 per cent at 44,749.73. Similarly, 50-scrip NSE Nifty was trading at 13,140.00, at 9:16 am, up by 84.85 points or 0.65 per cent.
Equity benchmark indices opened in the green on November 24 with Sensex up by 208.50 points and Nifty up by 72.25 points. The benchmark indices BSE Sensex and NSE Nifty opened higher for the second consecutive day as COVID-19 vaccine progress has shored up the global sentiment. At 9:16 am, the 30-scrip BSE Sensex was up by 208.50 points or 0.47 per cent at 44,341.19. Similarly, 50-scrip NSE Nifty was trading at 12,998.70, at 9:16 am, up by 72.25 points or 0.56 per cent.
Equity benchmark indices opened in the green on Monday with Sensex up by 371.84 points and Nifty up by 86.15 points. The domestic stock markets opened in the green, after closing at around record highs in the previous week, one of the reasons likely being, as hopes of a coronavirus vaccine continue to buoy investor sentiment globally. At 9:16 am, the 30-scrip BSE Sensex was up by 371.84 points or 0.85 per cent at 44,164.17. Similarly, 50-scrip NSE Nifty was trading at 12,945.20, at 9:16 am, up by 86.15 points or 0.67 per cent.
Equity benchmark indices witnessed a sharp recovery in the last hour of trading session on October 14 and closed in the green led by a rally in financial and banking scrips. The BSE S-P Sensex closed 169 points or 0.42 per cent higher at 40,795 while the Nifty 50 was up by 37 points or 0.31 per cent at 11,971. Except for Nifty auto, IT and pharma, all sectoral indices at the National Stock Exchange were in the green with Nifty financial service up by 1.7 per cent, private bank by 1.3 per cent and PSU bank by 0.6 per cent. Among stocks, Bajaj Finserv gained by 4.1 per cent to close at Rs 6,108.10 per share and Bajaj Finance by 2.8 per cent at Rs 3,364.50.
Equity benchmark indices tumbled over half per cent during early hours on October 14 tracking Asian peers as halted COVID-19 vaccine trials soured investor risk appetite. Besides, the International Monetary Fund (IMF) revised its projection of contraction in India's GDP for current fiscal year to 10.3 per cent from 4.5 per cent earlier, citing a rise in COVID-19 cases. At 10:15 am, the BSE SandP Sensex was down by 232 points or 0.6 per cent at 40,393 while the Nifty 50 lost by 88 points or 0.73 per cent at 11,847. All sectoral indices at the National Stock Exchange were in the red zone with Nifty private bank down by 1 per cent, PSU bank by 0.7 per cent, IT by 1.1 per cent and metal by 0.9 per cent. Among stocks, Wipro slipped by 6.5 per cent to Rs 351.45 per share despite improving its performance in the second quarter of FY21 on several parameters.
Equity benchmark indices were flat during early hours on Tuesday tracking Asian peers which witnessed downside in early deals. At 10:15 am, the BSE SandP Sensex was up by 40 points or 0.1 per cent at 40,634 while the Nifty 50 gained by 23 points or 0.2 per cent at 11,954. Sectoral indices at the National Stock Exchange were mixed with thin margins with Nifty private bank down by 0.7 per cent and PSU bank by 0.6 per cent. But Nifty FMCG and IT rose by 0.5 per cent each. Among stocks, the early gainers were Dr Reddy's, Asian Paints, Eicher Motos, Kotak Mahindra Bank and Bharti Airtel.However, ICICI Bank fell by 2.3 per cent to Rs 394.75 per share while IndusInd Bank, Axis Bank and State Bank of India traded lower with thin margins.Meanwhile, Asian shares slipped despite a firmer Wall Street lead with a buoyant tech sector and fresh optimism about US stimulus expected to continue to support sentiment.
Equity benchmark indices maintained an upward trajectory on Friday after the Reserve Bank of India's (RBI) kept repo rate unchanged and continued with accommodative stance. Though the central bank sees FY21 GDP contracting by 9.5 per cent and may turn positive in Q4, several market experts said many measures have been introduced to maintain comfortable liquidity conditions. The BSE SandP Sensex closed 327 points or 0.81 per cent higher at 40,509 while the Nifty 50 gained by 80 points or 0.67 per cent at 11,914. Among stocks, State Bank of India rose by 3.6 per cent to Rs 198.55 per share. Private lenders ICICI Bank, Axis Bank and HDFC Bank ticked up by 4 per cent, 3.7 per cent and 3.6 per cent respectively. IT major Wipro was up by 4.4 per cent to Rs 375.25 per share while infrastructure conglomerate Larsen and Toubro advanced by 3.3 per cent to close at Rs 910.05 per unit. However, those which lost were Grasim, Hindalco, Sun Pharma, Nestle India, Britannia and Tata Motors. Meanwhile, Asian shares were mixed as revived hopes for a US stimulus deal eclipsed weaker-than expected jobs data. Nikkei dipped by 0.12 per cent while Hong Kong's Hang Seng was down by 0.31 per cent. But South Korea's Kospi rose by 0.21 per cent.
Equity benchmark indices opened flat on Friday with Sensex up by 105 points and Nifty up by 23 points. At 10:05 am, the BSE S-P Sensex was up by 105 points or 0.26 per cent at 39,833 while the Nifty 50 gained by 23 points or 0.20 per cent at 11,730. Among stocks, BPCL rose by 2.28 per cent. Indusind Bank was up by 1.28, Kotak Bank up by 1.18 per cent, HDFC Bank up by 0.95 per cent and ICICI Bank up by 0.88 per cent. However, the stocks trading with a negative bias were UPL, HCL Tech, Tech Mahindra and Nestle India.