Press "Enter" to skip to content

Market LIVE: Nifty falls from record high, Sensex gives up gains post RBI policy; RIL, HDFC Bank fall – The Financial Express

Nifty Auto index was up over half a per cent.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading at day’s highs on Friday. BSE Sensex crossed 52,300, while Nifty 50 surged to a new record high of 15,717. ONGC, L&T, Tech Mahindra, Mahindra & Mahindra, Power Grid Corporation of India, Bharti AIrtel, UltraTech Cement were among top Sensex gainers. Nestle India, Hindustan Unilever Ltd (HUL), SBI, HDFC Bank, Titan Company, RIL stocks capped Sensex gains. The Nifty sectoral indices mostly negative, with Nifty Pharma index down 0.36 per cent per cent, leading the laggards. Nifty Auto index was up over half a per cent.

The Reserve Bank of India is all set to announce the monetary policy outcome at 10 AM on Friday. Analysts expect MPC to hold the repo rate, retain its accommodative stance and ensure adequate liquidity in the system to stimulate growth. The RBI had kept key interest rates unchanged at the last MPC meeting held in April this year. The repo rate was kept at 4 per cent and the reverse repo rate at 3.35 per cent.

RBI Governor Shaktikanta Das announced a special liquidity facility of Rs 16,000 crore to SIDBI in order to support MSMEs

RBI Governor Shaktikanta Das said that under Resolution Framework 2.0, coverage of Covid 2.0 recast scheme from Rs 25 crore to Rs 50 crore will cover more MSMEs and small businesses

CPI inflation is very much in the target range of the Reserve Bank of India, so at this juncture, accommodative policy with a status quo in the key policy rates is welcome. Expecting an appropriate cut in repo rate in the next review by RBI as depressed demand has to be rejuvenated with enhanced liquidity for businesses and people. Sanjay Aggarwal, President at PHDCCI

RBI maintains accommodative stance, keeping all rates unchanged. vowing to keep conditions as supportive as possible to revive growth. Impact of second wave on inflation could be handled through supply side measures. The policy bodes well for financial assets as well as the real economy, growth and employment as RBI has again stated its resolve to maintain conducive conditions to support durable growth. The policy is pragmatic, at the same time progressive and preemptive in its approach. Sandeep Bagla, CEO Trust AMC

To mitigate the COVID-19 second wave impact on certain contact intensive sectors, a separate liquidity window of Rs 15,000 cr has been opened till March 31, 2022 with tenors of up to 3 years at the repo rate

RBI Governor Shaktikanta Das said that RBI will conduct next leg of G-SAP worth Rs 40,000 crore on June 17, 2021. Of this, Rs 10,000 crore would be part of State Development Loans (SDL)

Foremost endeavour of RBI through the pandemic has been to create conducive financial conditions, so that fin institutions and market continue to function normally

The Reserve Bank of India reduced Q1FY22 GDP forecast to 18.5 per cent from the earlier estimate of 26.2 per cent

Shaktikanta Das said that FY22 real GDP seen at 9.5 per cent. CPI Inflation projected at 5.1% in 2021-22, 5.2% in first quarter; 5.4% in second-quarter; 4.7% in third quarter; and at 5.3 per cent in fourth quarter

BSE Sensex surged to a day’s high of 52,389 levels after RBI announced to keep interest rates steady and stance accommodative

RBI Governor Shaktikanta Das said that the forecast of normal monsoon, the resilience of farm economy, gathering global economic recovery can provide tailwinds to the domestic economy as COVID-19 second wave recedes

RBI Governor Shaktikanta Das said that data suggests that India’s FY21 GDP contracted 7.3 per cent

Nifty 50 index surged higher to a new record high of 15,730 on Friday, after RBI announced to keep the repo rate unchanged at 4%

The Reserve Bank of India’s monetary policy committe continues with ‘accommodative’ stance

The Reserve Bank of India (RBI’s) Monetary Policy Committee maintained the repo rate at 4%

The Nifty is trading above 15700 this morning. It is all poised to achieve 15900-16000 as it’s next target. The index has a good support at 15300 and as long as we can respect that, every dip can be utilized to buy into this market. Intra day profit booking or mild corrections cannot be ruled out. Hence traders should look at dips to accumulate long positions so that the risk reward ratio is favorable. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold and silver prices were trading in the negative territory on Friday as yellow metal in international markets fell to near two-week low on upbeat US economic data. On MCX, gold August futures were trading Rs 55 down at Rs 48,622 per 10 gram, against the last close of Rs 48,677. Silver July futures also fell Rs 162 or 0.23 per cent to Rs 70,648 per kg.

Read full story

Whenever investors see the Indian Rupee weakening, they unwind carry trades and that results in a sharp fall in the premiums. Yesterday was an odd day when Rupee appreciated up to 72.90 and 1-year premiums fell too up to 313 paise. The 1-year forward rates fell to the lowest when the USDINR pair was at 72.31 last week. Probably, traders unwounded their position heavily ahead of the RBI meet. Expectations are high that RBI will keep the policy interest rates unchanged, announce bond-buying programs and some measures to support affected industries. That apart, RBI’s comments on growth outlook and inflation will be watchful, thereby keeping the rupee under pressure. Amit Pabari, managing director, CR Forex Advisors

The Nifty sectoral indices mostly negative, with Nifty Pharma index down 0.36 per cent, leading the laggards. The nifty Auto index was up over half a per cent.

Nestle India, Hindustan Unilever Ltd (HUL), SBI, HDFC Bank, Titan Company, RIL stocks capped Sensex gains

ONGC, L&T, Tech Mahindra, Mahindra & Mahindra, Power Grid Corporation of India, Bharti Airtel, UltraTech Cement were among top Sensex gainers

BSE Sensex was trading flat with a negative bias at 52,251 while the Nifty 50 index was trading just below 15,700 on Friday ahead of RBI MPC decision.

Check live Sensex, Nifty levels

The government will have to do its bit to help for a faster recovery and start spending at the earliest, Axis Bank’s chief economist Saugata Bhattacharya said on Thursday, estimating the FY22 GDP growth to come at between 9.5-10 per cent.

Read full story

Indian equity markets likely open on a flat note looking at global trends. Asian equity markets fell this morning and SGX Nifty also indicates a flat opening. Key support levels for the near term remain at 15,500 and 15,300. All eyes shall be at today’s RBI MPC’s stance on interest rate change and policy guidance. Stocks to be watched are Bharat Forge, MOIL, PNB, Bank of India and NIIT ahead of the result announcement.  Mohit Nigam, Head, PMS – Hem Securities

COMEX gold trades modestly lower near $1869/oz. Gold has fallen sharply as upbeat US economic data has pushed US dollar index and bond yields higher while adding to debate that Fed may tighten monetary policy. US equity markets have also stabilized on President Biden’s tax proposal. Gold’s sharp up move in last few weeks has made it vulnerable to profit taking which may extend further if US dollar strengthens further. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

BSE Sensex was trading 100 points up at 52,322 while Nifty 50 index reclaimed 15,700 levels in the pre-opening session on Friday, ahead of RBI MPC decision.

Check live Sensex, Nifty levels

A total of 34 BSE-listed companies including Punjab National Bank, Bank of India, Bharat Forge, MOIL, Balkrishna Paper Mills, Jubilant Pharmova, NIIT, Paisalo Digital, Pennar Industries, Simbhaoli Sugars, and Varroc Engineering, are scheduled to announce Januray-March quarter earnings

Read full story

There are not many in the crypto world who would like to adjust to the stratospheric rise in cryptocurrencies on a given day and heartbreaking crashes the very next day. And very few would imagine accessing Bitcoin right through an accessory as common as a wristwatch to showcase opulence of the highest order. The Swiss watchmaker Franck Muller had last year in May turned it into reality when it unveiled the world’s first functional Bitcoin watch called Encrypto for users to add Bitcoin to their crypto wallet or check balance directly through the watch’s dial via a QR code nestled into its polished frame.

Read full story

In overnight trade on Wall Street, US stock indices ended lower. The S&P500 index fell 15.27 points, the Dow Jones Industrial Average index dropped 23.34 points, and the tech-heavy Nasdaq lost 141.82 points.

Asian stock markets were trading mostly lower with Japan Nikkei 225 falling 0.72 per cent. The Topix index shed 0.39 per cent and South Korea’s Kospi lost 0.77 per cent. 

The Reserve Bank of India’s Monetary Policy Committee began its bi-monthly deliberations on Wednesday amid expectations of keeping a status quo on repo and reverse repo rates due to uncertainty over the impact of the second COVID-19 wave. The monetary policy outcome will be announced on Friday, June 4, 2021. Analysts at CARE Ratings expect no change in the repo or reverse repo rate. They also believe that accommodative monetary policy stance would be maintained to address economic growth concerns.

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates