Stock Market LIVE: Sensex, Nifty likely to open flat today 
Stock Market LIVE: Sensex, Nifty likely to open flat today Sensex surged 657 points on Wednesday to reclaim the 58,000-mark today amid positive global cues. The index surged for the second straight session and closed 657.39 points or 1.14 per cent higher at 58,465.97. Nifty rose 197.05 points or 1.14 per cent to end at 17,463.80.
Here's a look at the latest updates of the market action on BSE and NSE today.
12:11 pm: Tata Power shares rise over 2% post Q3 earnings
Shares of Tata Power rose over 2% today after the firm reported a 72% rise in profit for the quarter ended December, 2021. The large cap stock touched an intraday high of Rs 243.75, rising 2.44% on BSE. Shares of Tata Power trade higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.
11:55 am: Market check
Equity benchmark Sensex zoomed over 500 points to 58,967 after the RBI kept the key rates unchanged. Likewise, Nifty was up around 160 points to 17,617.
11:40 am: Technical and Derivatives Report by Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd
The benchmark index has surpassed the initial resistance and has marched firmly towards the mean of the Bollinger band, showing reinforcement in the momentum. On the technical aspect, a bullish indication has been showcased among various indicators, affirming the inherent strength in the index. On an immediate basis, 17200-17300 is likely to provide strong support, while on the higher end, 17600-17650 could be seen as the primary hurdle followed by the recent swing high of the 17800 zones.
The momentum was strengthened by the major contributor, NIFTY BANK, which has rebounded from the 21 DEMA, followed by the buying in heavyweights of the benchmark index. All these kept the momentum trader engrossed throughout the session. Traders are advised to keep a close tab on the mentioned levels and continue with a stock-centric approach.
11:15 am: Decision in line with expectations
"The RBI in its MPC kept the repo rate and the reverse repo rates unchanged at 4.0% and 3.35% respectively. While the decision to keep repo rates unchanged was in line with expectations markets were expecting a 25bps hike in the reverse repo rates to 3.5%. The RBI expects GDP growth for FY23 to be at 7.8% while they expect inflation to peak out in Q4FY2022 at 5.7% before moderating to 4.5% in FY2023, though hardening crude prices could pose upside risks to inflation. The RBI also maintained that they will continue to use variable rate reverse repo (VRRR) as the main instrument for draining out excess liquidity from the markets," said Jyoti Roy, DVP- Equity Strategist, Angel One Ltd.
"Limits under the Voluntary Retention Route (VRR) have also been hiked from ₹1.5 lakh crore to ₹2.5 lakh crore with effect from April 1, 2022. This will provide access to additional sources of capital for the domestic debt market including g-secs. The RBIs decision not to hike reverse repo rates and keep an accommodative stance surprised the markets as the RBI was largely expected to change its stance to neutral. While the RBIs decisions came as a pleasant surprise for the markets, concerns remain over-aggressive Fed tightening, large Government borrowings along with upside risks to inflation due to high commodity and crude prices," she added.
10:30 am: Experts take
"Reserve Bank of India announced that the central bank has decided to keep rates unchanged, repo rates will be kept at 4% along with this the stance remains accommodative. This is a piece of positive news for the real-estate companies as there will not going to be any hike in home loan rates, currently, home loan rates are between 6.5%-7%, this is one of the lowest home loan rates in history. We continue with our buy call on Sobha Limited and Oberoi realty with a target price of 1060 and 1250 respectively," said Yash Gupta- Equity Research Analyst, Angel One Ltd.
10:15 am: RBI projects real GDP growth for 2022-23 at 7.8%
Governor Shaktikanta Das said in the Monetary Policy announcements that the central bank expects real GDP to grow at 7.8 per cent in FY22-23. He added that the GDP growth for FY2021-22 is likely to be 9.2 per cent.
10:15 am: Market check
Sensex jumped over 150 points after RBI kept the key rates unchanged. The equity benchmark was trading 168 points higher at 58,634. Likewise, Nifty was trading 60 points higher at 17,523.
Power Grid was the top gainer on the Sensex, followed by Infosys, Tata Steel, HDFC and Kotak Mahindra Bank.
10:10 am: RBI keeps key rates unchanged
The Reserve Bank of India (RBI) on Thursday kept the repo rate unchanged at 4 per cent for the 10th time in a row, and will continue with an accommodative stance. Also, it kept the reverse repo rate unchanged at 3.35 per cent.
The MPC meeting, which was slated for February 7-9, 2022, was rescheduled by a day in view of the Maharashtra govt declaring a public holiday on February 7 to mourn the death of legendary singer Lata Mangeshkar.
9:30 am: RBI MPC meet: Governor Shaktikanta Das may hold repo rate, hike reverse repo
The Reserve Bank of India (RBI) may maintain a status quo on key policy rates in its monetary policy review to be announced on Thursday in the backdrop of Budget 2022 and growing inflationary concerns.
The RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC), however, is likely to change the policy stance from 'accommodative' to 'neutral' and toy with the reverse-repo rate as part of the liquidity normalisation process, experts opine.
9:15 am: Market opening
The benchmark indices opened higher ahead of MPC meeting outcome. At 09:16 hours, the 30-share BSE index was trading 242 points higher at 58,708.17, and the broader NSE Nifty was up 49 points to 17,512.50.
Power Grid was the top Sensex gainer, followed by Infosys, HDFC Bank, Tata Steel, Bajaj Finance and Kotak Mahindra Bank.
Asian Paints and Maruti Suzuki were the top losers.
9:05 am: Global updates
Wall Street jumped on Wednesday, closing sharply higher as megacap growth stocks powered up thanks to a pause in rising interest rates, and upbeat earnings reports also encouraged investors to buy.
The Dow Jones Industrial Average rose 0.86 percent to end at 35,768.06 points, while the S&P 500 gained 1.45 percent to 4,587.18. The Nasdaq Composite climbed 2.08 percent to 14,490.37.
In Asia, the Nikkei Weighted index was up 0.07 per cent and Hang Seng was trading 0.48 per cent lower. Shanghai Composite was down 0.05 per cent.
8:55 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities
Benchmark Indices are expected to open on a flat to positive note as suggested by trends on SGX Nifty. US stock markets closed in green as mega-cap growth stocks powered up thanks to a pause in rising interest rates, and upbeat earnings reports. NASDAQ was up by 2.08% to 14490.37 levels. Asian markets are trading at mix levels as investors await the release of US consumer inflation data. Nikkei gained 0.14%, Shanghai composite down by 0.19%.
Indian markets will be in focus today as the Reserve Bank of India will announce its verdict after a three-day meet on February 10 and it is widely expected to increase the reverse repo rate or the rate at which the central bank borrows short-term deposits from banks by at least 25 basis points.
Results today: Hero MotoCorp, Mahindra & Mahindra, Hindalco Industries, Zomato, ABB India, Aegis Logistics, Amara Raja Batteries, Alembic Pharmaceuticals, BEML, Bharat Forge, Computer Age Management Services, Cummins India, Gujarat Pipavav Port, Gujarat State Petronet, Hindustan Aeronautics, IRB Infrastructure Developers, Indian Railway Finance Corporation, Krishna Institute of Medical Sciences, Dr Lal PathLabs, Mindspace Business Parks REIT, MRF, MTAR Technologies, Novartis India, Page Industries, Quess Corp, Reliance Power, SJVN, Speciality Restaurants, Strides Pharma Science, Sundaram Fasteners, Sunteck Realty, Sun TV Network etc.
On the technical front 17,300 and 17550 are immediate support and resistance in Nifty 50. For Bank Nifty 38,000 and 38,900 are immediate support and resistance respectively.
8:40 am: Rupee update
The rupee declined by 5 paise to close at 74.79 (provisional) against the U.S. dollar on Wednesday amid persistent foreign fund outflows and elevated crude oil prices.
At the interbank foreign exchange, the rupee opened at 74.70 against the American dollar, and later witnessed an intra-day high of 74.68 and a low of 74.87 against the greenback.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) sold shares worth Rs 892.64 crore on February 9, and domestic institutional investors (DIIs) bought shares worth Rs 1,793.35 crore, as per provisional data available on NSE.
8:30 am: SGX Nifty
The Indian equity market is likely to open on a flat note as SGX Nifty was down 41 points at 17,514.
Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Wednesday
Sensex surged 657 points on Wednesday to reclaim the 58,000-mark today amid positive global cues. The index surged for the second straight session and closed 657.39 points or 1.14 per cent higher at 58,465.97. Nifty rose 197.05 points or 1.14 per cent to end at 17,463.80.
Maruti was the top Sensex gainer, rising over 4 per cent, followed by IndusInd Bank, HDFC Bank, Bajaj Finserv, Titan, Wipro, and Bharti Airtel.
Sun Pharma, ITC and PowerGrid were the only Sensex losers, falling up to 0.72%.and
BSE mid cap and small cap indices rose 298 points and 165 points, respectively.
On the sectoral front, consumer durables led the gains today with their BSE index ending 766 points higher at 43,176.
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