Sensex, Nifty LIVE Updates on August 6: Domestic benchmark indices Sensex and Nifty opened on a positive note on Thursday, backed by index heavyweights HDFC twins, in line with bullish global equities. Sensex traded 140 points higher to 37,806 and Nifty was rising 40 points higher to 11,140. Yesterday, Sensex ended 24 points lower at 37,663 and Nifty gained 6 points to 11,101. Meanwhile, April-June quarterly earnings announcements by Vodafone, Adani Power, Lupin, HPCL, JK Tyre, Adani Enterprises among others will also set the tone for the stock market today.
Here's a look at the updates of the market action on BSE and NSE today
9. 22 AM: Market outlook
Ajit Mishra, VP - Research, Religare Broking said," Participants are keeping a close eye on RBI monetary policy outcome which is scheduled tomorrow and that would set the tone for the rest of the day as well. While the expectations are mixed on key rates, we feel commentary on the moratorium and future outlook would hold importance. We would suggest maintaining extra caution before the event and advise preferring hedged bets."
9. 15 AM: Stocks in news
HDFC, Alkem Labs, DLF, Adani Gas, Canara Bank, Max Financial among others are the top stocks to watch out for in Thursday's trading session.
Stocks in news: HDFC, Alkem Labs, DLF, Adani Gas, Canara Bank, Max Financial
9. 10 AM: Opening session
Domestic benchmark indices Sensex and Nifty opened on a positive note on Thursday, in line with bullish global equities. Sensex traded 140 points higher to 37,806 and Nifty was rising 40 points higher to 11,140. Yesterday, Sensex ended 24 points lower at 37,663 and Nifty gained 6 points to 11,101.
8. 55 AM: Global cues
Globally, markets in the Unites States and Europe were trading higher on Wednesday. European stocks were up after falling in six of the last eight sessions as investors digested some of major corporate earnings reports, but weak euro zone economic data restricted gain. Wall Street shares were also trading higher amid reports that White House negotiators may reach a deal on a new coronavirus stimulus package by the end of the week.
8. 50 AM: RBI MPC meet
Analysts said investors took a cautious stance and booked profits as they are keeping an eye on whether RBI extends moratorium beyond August 2020. The Monetary Policy Committee will announce its policy stance on today, where the central bank is widely expected to cut repo rates. Experts are, however, divided over the possibility of another rate cut by the RBI arguing that one-time loan restructuring is more essential at this juncture to combat the coronavirus-led economic disruption. While loan restructuring could postpone the recognition of stress in the lender book in the near-term, high share of such assets would be credit negative.
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8. 40 AM: Earnings today
April-June quarterly earnings announcements by Vodafone, Adani Power, Lupin, HPCL, JK Tyre, Adani Enterprises among others will also set the tone for the stock market today. Other companues that ares et to annoucne results today are Bayer Cropscience, HCL Infosystems, Lemontree Hotels, Whirlpool of India.
8. 30 AM: Closing on Wednesday
Domestic benchmarks Sensex and Nifty turned cautious ahead of the RBI monetary policy meet outcome and ended marginally lower on Wednesday, despite positive global equities. While Sensex ended 24 points lower at 37,663 and Nifty gained 6 points to 11,101. Yesterday, Sensex ended 748 points higher at 37,687 and Nifty gained 211 points to 11,102.
Sensex, Nifty close flat ahead of RBI policy outcome