Stock Market Live Updates | Sensex Today: RBI keeps repo rate at 6.5%, GDP at 7% and inflation at 4.5%.market is silent

Stock Market Live Today: Reserve Bank of India (RBI) has lowered the benchmark repo rate in its seventh consecutive policy meeting with the aim of achieving a sustained fall in inflation to achieve the 4% target. The rate remained unchanged at 6.5%.

The rate-setting committee continues to withdraw easing measures to gradually bring inflation on target while promoting growth. Economists expect the RBI to introduce the first set of rate cuts in the second half of 2024, with some expecting these cuts to occur in the final quarter of this year. (Read the full text here.)

Stock Market Live Today: India’s benchmark indexes were flat on Friday after Reserve Bank of India Governor Shaktikanta Das announced MPC’s decision to keep interest rates unchanged at 6.5%.

As of 11 am, the Sensex was down 7.74 points or 0.01% at 74,210.89 and the Nifty was down 13.20 points or 0.06% at 22,501.45.

RBI’s announcement reflects its dedicated efforts to maintain financial stability and manage liquidity.

The RBI has demonstrated a proactive approach to liquidity management by allowing improved liquidity conditions and the use of variable rate reverse repo (VRRR) operations.

Despite inflation concerns, the announcement conveys cautious optimism about the economy’s resilience.

From an industry perspective, these measures are likely to boost confidence and support growth, particularly in sectors that rely on stable financial conditions.

However, continued vigilance is required to address potential challenges such as inflationary pressures and global economic uncertainty.

Impact on stock market:

These announcements are expected to shape investor sentiment and market trends.

The perception of excess liquidity and RBI’s liquidity management efforts may trigger a positive reaction in the stock market, especially in banking stocks.

Any signs of accommodative monetary policy measures could further boost investor confidence and push stock markets higher.

However, inflation concerns and global economic risks could limit market gains.

While the banking sector is likely to benefit from the RBI’s liquidity management focus, interest rate-sensitive sectors such as real estate and infrastructure may also be affected.

Sectors that rely on domestic consumption, such as FMCG and retail, may benefit from stable financial conditions and improved consumer sentiment.

Overall, stock market momentum following the meeting is likely to be influenced by a combination of domestic economic factors and global market trends.

–Sonam Srivastava, Founder and Fund Manager, Wright Research

Stock Market Live Today: RBI MPC Live Policy Making Governor Shaktikanta Das says RBI will launch mobile app to enable retail participation in primary and secondary G-Sec markets

Stock Market Live Today: RBI MPC Live Policy Making: Governor Shaktikanta Das The elephant in the room (inflation) seems to be going to the woods. Mr Das reiterated his hope that it would remain there for a “permanent period”.

4.9% in the first quarter

3.8% in the second quarter

4.6% in the third quarter

4.5% in the fourth quarter

Stock Market Live Today: RBI MPC Live Policy Making: Governor Shaktikanta Das says GDP forecast for FY25 remains at 7%

7.1% in the first quarter

6.9% in the second quarter

7% each in Q3 and Q4

Stock Market Live Today: Governor Shaktikanta Das says consumption story will hold as rural demand recovers.Consumption in urban areas remains strong

Today’s Stock Market Live: Governor Shaktikanta Das says domestic economy will continue to expand with continued investment

Stock Market Live Today: Governor Shaktikanta Das says global economy remains resilient as various high-frequency indicators show

Today’s Stock Market Live: Governor Shaktikanta Das says MPC has decided by a 5:1 majority to keep policy interest rate unchanged at 6.5%

Sensex Today Live: India’s benchmark index was in the red on Friday ahead of RBI MPC’s interest rate decision and commentary on inflation.

As of 10 am, the Sensex was down 119.02 points or 0.16% at 74,108.61 and the Nifty was down 36.30 points or 0.16% at 22,478.35.

RBI MPC Policy Decision: As its first fiscal meeting approaches, the Reserve Bank of India (RBI) is expected to clarify uncertainties regarding possible rate cuts.

Markets are watching closely to see whether the central bank will cut interest rates ahead of the Fed, even if April’s policy decision could leave the current policy rate unchanged.

The RBI is not expected to cut interest rates in a hurry given the robust state of the Indian economy and inflation above its target of 4%. We anticipate that we will continue to use other methods to manage excess liquidity. (Read the full text here.)

Sensex Today Live: Cipla today informed the exchanges that it has received six observations from the US Food and Drug Administration regarding the location of its Patalganga facility in Maharashtra. “We hereby acknowledge that the United States Food and Drug Administration (USFDA) has conducted a periodic inspection of our manufacturing facility in Patalganga, Maharashtra for current good manufacturing practices (cGMP),” the company said in its exchange filing. We will notify you.” India from March 28, 2024 to April 4, 2024. ”

The company further stated, “Upon completion of the inspection, the Company received six inspection findings on Form 483. The Company is working closely with the U.S. Food and Drug Administration to comprehensively address these within the stipulated timeframe. I will do my best,” he added.

Sensex Today Live: Across sectors, the banking index was in the red, while the financial services index was flat ahead of the RBI MPC’s interest rate decision and commentary on inflation.

Other major indexes such as automobiles, IT, and oil and gas were also in the red, but FMCG, pharmaceuticals, healthcare, and consumer durables were in the black.

Sensex Today Live : The overall market was marginally higher, with BSE MidCap index up 0.13% and BSE SmallCap index up 0.07%.

Sensex Today Live: In Nifty 50, SBI Life Insurance, Dr Reddy’s HDFC Bank, Bajaj Finserv, Mahindra & Mahindra were the top gainers, while BPCL, Hindalco, Tata Steel, JSW Steel, Larsen & Toubro were the top losers. .

Sensex Today Live: Ahead of RBI MPC’s interest rate announcement, only six stocks out of 30 Sensex stocks were in green on Friday morning. HDFC Bank, Bajaj Finserv, Nestle India, Mahindra & Mahindra, NTPC and Kotak Mahindra Bank were the only gainers, while Tech Mahindra, JSW Steel, Larsen & Toubro, Tata Steel and Axis Bank It was at the top of the list in terms of price decline.

Sensex Today Live : NIFTY

Amidst the big swings, Nifty could eventually close above the 22500 zone while the bias remains strong, with the next targets of 22800 and 23200 levels coming into view in the coming days, leading to further The upside potential has improved significantly. For now, the index maintains short-term support at the 22,300 level, with further upside expected as front-line stocks start to show improvement in bias. Support for the day is seen at the 22400 level and resistance is seen at the 22700 level.

banknifty

Backed by HDFC Bank, Banknifty closed above the 48000 level with improved bias and aims to retest the previous peak zone at the 48636 level in the coming days, providing important short-term support. will hold and the important 50EMA 46800 zone. level. His daily range for Banknifty will be 47,600-48,500 levels.

Sensex Today Live: India’s benchmark index opened in the red on Friday ahead of RBI MPC’s interest rate decision and commentary on inflation.

At the opening bell, Sensex was down 199.24 points or 0.27% at 74,028.39 and Nifty was down 75.50 points or 0.34% at 22,439.15.

Sensex Today Live: India on Friday after global peer markets in the US and Asia fell on hawkish comments by Federal Reserve officials on the need to cut interest rates if inflation remains high. The market was heading for a calmer turn. Gift Nifty futures were trading at $22,534 as of 8 a.m. Friday, slightly above Thursday’s closing price of $22,514 for the Nifty 50, although Indian markets could open early. , indicating that it is still in a slump. Additionally, Indian markets were on the rise on Friday after Reserve Bank of India Governor Shaktikanta Das announced that the country’s inflation rate would rise after the Monetary Policy Committee completed its review of the country’s monetary policy stance at its April 3-5 meeting. I was waiting for your comment on the situation. South Korean stocks fell on Friday, following losses on Wall Street overnight. The benchmark KOSPI fell 13.69 points, or 0.50%, to 2,728.31 by 0104 GMT. Hong Kong stocks opened slightly higher on Friday morning as investors returned from a mid-week break to catch up with the previous day’s gains in Asian markets. The Hang Seng Index rose 0.38% (62.83 points) to 16,787.93. Mainland China markets are closed for public holidays. Warning words from Federal Reserve officials on Thursday that interest rate cuts need to be held back until inflation has clearly slowed dampened Wall Street’s stock rally and sparked a rise in bond prices. Global stock markets rose after data showing an increase in new U.S. jobless claims maintained expectations that the Federal Reserve will cut interest rates soon ahead of a key jobs report due on Friday. However, several policymakers favored a cautious approach to starting monetary easing, dampening expectations that a rate cut would be forthcoming soon. Wall Street closed sharply lower, with the Dow Jones Industrial Average down 1.35%, the S&P 500 down 1.23% and the Nasdaq Composite Index down 1.4%. MSCI’s Global Stock Performance Index fell by 0.61%. Crude oil prices exceeded the $90 per barrel milestone in the previous session, and then increased at a faster rate due to intensifying tensions in the Middle East. Global benchmark Brent rose towards $91, near its highest since October, while West Texas Intermediate was around $87. Gold prices hit an all-time high in early trading, then paused. US gold futures closed 0.2% lower at $2,308.50 an ounce.