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Economic Times | 05 Aug, 2022 | 10:15AM IST
Stock Market LIVE Updates: Sensex jumps 250 points as RBI hikes rates in line with expectations
Stock Market Live Updates: Watch this space as we bring you LIVE updates of the day's proceedings from Dalal Street.
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Bond yields rise after RBI decision
#MarketAlert | India's benchmark 10-year bond yield rises to 7.20% after RBI policy decision #RBI #RateHike… https://t.co/lg2yGvHrAS
— ET NOW (@ETNOWlive) 1659674689000RBI Governor on economy
IMF has revised downwards economic growth projection and expressed risk of recession: RBI Governor Shaktikanta Das
— Press Trust of India (@PTI_News) 1659674483000Inflation expected to remain above tolerance levels
- Shaktikanta Das, RBI Governor
POLICY OUTCOME | RBI GOVERNOR SAYS
- Financial markets have remained uneasy despite heavy intervention
- Core inflation remains at elevated levels
- MPC noted domestic economy resilient
Sensex reaction to RBI policy move
MPC focussed on withdrawal of liquidity: RBI Governor
RBI MPC hikes repo rate by 50 bps to 5.40%
Witnessed large portfolio outflows of $13.3 billion so far
- Shaktikanta Das, RBI Governor
RBI POLICY | SHAKTIKANTA DAS SAYS
- Successive shocks to global economies taking its toll
- EMs face rapid tightening of external financing
- Global, domestic risks for EM economies have magnified
Rupee volatility hits over 4-mth high ahead of RBI
The Indian rupee's volatility, measured in terms of the daily close-to-close, reached its highest level since late-March ahead of the Reserve Bank of India's policy decision. The RBI is widely expected to raise the repo rate as it continues its battle to control inflation. Economists, however, differ on the size of the rate hike that the RBI will deliver as the central bank aims to strike the right balance between inflation and growth.
India bond yields fall ahead of RBI policy decision (Source: Reuters)
Indian government bond yields dropped on Friday, with the 10-year yield trading at a three-month low, after global oil prices fell overnight, while market participants awaited a Reserve Bank of India policy decision for further cues.
The 10-year bond yield was trading at 7.1141%, as of 0340 GMT, after ending at 7.1566% on Thursday.
The benchmark Brent crude oil contract ended 3.7% lower at $94.12 per barrel on Thursday amid worries over fuel demand.
The 10-year bond yield was trading at 7.1141%, as of 0340 GMT, after ending at 7.1566% on Thursday.
The benchmark Brent crude oil contract ended 3.7% lower at $94.12 per barrel on Thursday amid worries over fuel demand.
The private lender will wind up its UK subsidiary following termination of an agreement to sell 100 per cent of the stake to OpenPayd Holdings. In March 2021, Axis Bank had informed the exchanges about entering into a share purchase agreement with OpenPayd Holdings for sale of 100 per cent stake in Axis Bank UK.
Price as on 05 Aug, 2022 09:55 AM, Click on company names for their live prices.
Rupee moves above 79 per dollar
Rupee rises 46 paise to 78.94 against US dollar in early trade
— Press Trust of India (@PTI_News) 1659672023000Chris Wood in his latest Greed & Fear note
#MarketsWithETNOW | Chris Wood in his latest Greed & Fear note: - Markets pricing in 50 bps of rate cuts next yea… https://t.co/IgeGAEUDYX
— ET NOW (@ETNOWlive) 1659671439000Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
RBI rate action today is unlikely to impact markets. The most likely scenario of a 30 to 35 bp rate hike is already known and discounted by the market . Market will be looking forward to the RBI's commentary on inflation, GDP growth for FY 23 and other macros like CAD.
The momentum in the market now is influenced by global cues and strong FII buying which has crossed Rs 5300 cr so far in August. The decline in Brent crude to $94 is positive for India's macros and the dip in dollar index to below 106 again augur well for capital flows to India.FII buying happening in sectors like capital goods, FMCG, construction and power is likely to impart resilience to these segments.
The momentum in the market now is influenced by global cues and strong FII buying which has crossed Rs 5300 cr so far in August. The decline in Brent crude to $94 is positive for India's macros and the dip in dollar index to below 106 again augur well for capital flows to India.FII buying happening in sectors like capital goods, FMCG, construction and power is likely to impart resilience to these segments.
Most active stocks on NSE in early morning session
Price as on 05 Aug, 2022 09:22 AM, Click on company names for their live prices.
Sensex Heatmap: Top gainers & losers in trade at opening tick
OPENING BELL: Sensex gains 150 points, Nifty above 17,400; Thomas Cook rallies 8%
Oil prices extend losses on demand worries
Oil prices extended losses on Friday, after hitting their lowest since before Russia's February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 53 points, or 0.30 per cent, higher at 17,450, signaling that Dalal Street was headed for a positive start on Friday.
Quarterly earnings today
Titan Company, Mahindra & Mahindra, FSN E-Commerce Ventures, One97 Communications, Alkem Laboratories, Petronet LNG, NMDC, Aditya Birla Fashion and Retail, Motherson Sumi Wiring India, UCO Bank, Fortis Healthcare, Graphite India and Raymond are among companies that will announce their quarterly earnings today.
Tech View: Nifty50 turns sideways, faces 17,500 hurdle
Analysts said the index turned sideways after the recent rally and expect it to find support around 17,200 level. They see resistance for the index at 17,500. This is the same level around which the Nifty50 attracted selling pressure during Thursday's session.
Tokyo stocks rise after US tech gains
Tokyo stocks traded higher Friday following tech gains on Wall Street while more businesses reported that higher raw material prices were weighing on profits. The benchmark Nikkei 225 index opened flat then rose 0.23 percent, or 65.06 points, to 27,997.26, while the broader Topix index was up 0.30 percent, or 5.77 points, at 1,936.50.
Wall Street ends mixed as investors eye payrolls data
Wall Street's main indexes ended mixed on Thursday as gains in high-growth stocks offset losses in energy shares, with investors looking ahead to monthly jobs report for clues on the pace of interest rate hikes by the Federal Reserve.
Rupee skids 25 paise to 79.40 against US dollar
The rupee depreciated by 25 paise to close at 79.40 against the US dollar on Thursday, posting its second day of losses amid disappointing macroeconomic data and US-China tensions.
Sensex, Nifty on Thursday
BSE Sensex ended 51.73 points or 0.09 per cent lower at 58,298.80. Its NSE counterpart, Nifty50, ended 6 points or 0.04 per cent down to close at Rs 17,382.
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