RBI's dovish policy gives Sensex 381-pts boost; RIL up 4%, IT stocks shine

The central bank also retained the GDP growth forecast at 9.5% for the on-going fiscal year and revised CPI inflation projection downward to 5.3% which also supported sentiment

3:55 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed a week at 17895 with gains of two percent on a weekly basis and formed a bullish candle on the weekly chart. Index has reached to strong hurdle zone of 17950 where we can see sort of double top formation & if index managed to cross above said levels decisively then we may see good move towards 18300-18500 zone in near term but if failed then we may see some more consolidation in the overall range of 17300-18000 zone, immediate support is coming near 17820-17730 zone.

3:54 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic indices traded higher with optimism underpinned by dovish RBI policy and mixed global cues due to US jobs data awaited later in the day. RBI kept rates unchanged and maintained the status quo on accommodative stance. FY22 GDP growth was maintained at 9.5% while trimming inflation worries by lowering CPI forecast from 5.7% to 5.3%, provided the push to the market. On the sectoral front, the IT sector was in focus ahead of the result releases of sectoral majors while realty and FMCG succumbed to profit booking.

3:54 PM

Nazara extends gains for the 7th day, ends 15% higher

3:47 PM

TCS hits new high ahead of Q2 earnings later today

3:46 PM

RIL gains 4%, market cap nears Rs 18 trillion

3:44 PM

India VIX cools off 3%

> Volatility index or India VIX ended 3.11% down at 15.65

3:43 PM

Sector Watch :: IT, PSU Bank index shine; realty pack tanks

3:41 PM

Broader markets largely lag benchmark Nifty50

3:35 PM

RIL contributes to two-third of Sensex's total gains

3:35 PM

Sensex Heatmap | Top gainers & losers at close

3:33 PM

CLOSING BELL :: Nifty ends near 17,900

3:33 PM

CLOSING BELL :: Sensex ends above 60,000 mark after a gap of 8 sessions

>> RBI's dovish policy stance and promise of caliberated tightening boosted investor sentiment

 

3:23 PM

TCS Q2 preview: Analysts see up to 33 % PAT growth; deal wins eyed

Global brokerage HSBC eyes a 32.8 per cent year-on-year (YoY) and 10.2 per cent quarter-on-quarter (QoQ) rise in the net profit at Rs 9,926.6 crore. The firm had reported a consolidated net profit of Rs 7475 crore in the same quarter a year ago and Rs 9,008 crore in the preceding quarter. READ MORE

 

3:15 PM

Nasdaq is getting trounced by an Indian tech gauge this year

The S&P BSE Information Technology Index has gained more than 48 per cent this year, trouncing the Nasdaq 100’s performance by about 31 percentage points and heading for the biggest annual beat since 2009. READ MORE

3:00 PM

NEWS ALERT :: Maharashtra Seamless bags order worth Rs 237 crore

>> The company has successfully bagged Rs 237 crore order from Oil and Natural Gas Corporation Limited (ONGC) for supply of Seamless Casings pipes. 

 

2:56 PM

TCS gains 5% in two days, stock at life-time high ahead of Q2 results

Shares of Tata Consultancy Services hit a new high at Rs 3,990, up 2.5 per cent on the BSE in Friday’s intra-day trade, and has now gained 5 per cent in the last two trading sessions, ahead of its July-September quarter (Q2FY22) results. The information technology (IT) will announce last quarter results late in the evening today. The stock surpassed its previous high of Rs 3,981.55 touched on September 16, 2021. READ MORE

2:45 PM

AMFI SEPTEMBER DATA

>> Net outflow of Rs 47,257 crore vs inflow of Rs 32,976 crore in August

>> Equity inflow of Rs 8,677 crore vs inflwo of Rs 8,667 crore in August

>> Total AUM at Rs 37.4 lk crore vs Rs 36.1 lk crore in August

>> Equity AUM at Rs 12.7 lk crore vs Rs 11.9 llk crore in August

2:42 PM

RBI is preparing the market for reverse repo rate hike

“The MPC has a difficult job as it battles both the slowdown and the inflation COVID-19 has triggered”, one MPC member had noted at the August meeting. The monetary policy statement today reveals that India possibly remains in the same spot. The RBI indicated that the “recovery remains uneven” and “critically dependent upon policy support”. On the other hand, the recent inflation outcomes have made RBI more comfortable about the path of inflation than it was in August, despite the recent increases in the global commodity prices. All the above explains RBI’s decision to stay on a pause and retain its “as long as it is necessary” guidance on monetary policy. READ MORE

2:28 PM

Broader markets trade on a firm note

2:18 PM

RBI policy over, global factors to dictate market trajectory from here on

While the RBI does acknowledge that the domestic economic activity is gaining momentum with the second Covid wave effects receding in the country, it probably wants to be watchful of the slack in the economy, the recovery being uneven, growth still being below pre-pandemic levels, and some of the global economies showing signs of slowing down. READ MORE

2:09 PM

Sensex marches higher, led by RIL, Infosys and TCS

The BSE Sensex was up nearly 400 points in late noon deals, with just half the Sensex 30 stocks in green. The up move was well supported by three index heavyweights - Reliance Industries, Infosys and TCS. Reliance in particular contributed more than 50 per cent of the Sensex gains alone.

2:03 PM

BUZZING :: RIL up 3%, hits record high of Rs 2,658

1:57 PM

MTAR Technologies rallies 11%, hits all-time high on heavy volumes

On Tuesday, CRISIL upgraded the credit rating on the company's long term bank facilities to A-/Stable from BBB+/Positive and short term bank facilities to A2+ from A2. READ MORE

1:46 PM

European markets buck global trend, slip in opening deals

Prominent European markets were mostly down in early trades, with DAX and CAC down 0.3 per cent and 0.2 per cent, respectively. FTSE 100, however, was up 0.1 per cent.

1:40 PM

Q2 Business Update :: Dhanlaxmi Bank's loan book shrinks 1% YoY

1:22 PM

RIL contributes to two-third of Sensex's total gains

1:15 PM

NEWS ALERT :: DIPAM & Civil Aviation secretaries to address media at 4 PM today

>> Air India divestment plans could be announced

1:01 PM

ALERT :: MobiKwik gets Sebi nod for Rs 1,900 crore IPO

Source: PTI

12:58 PM

Corporate Update :: DCW MD resigns with immediate effect

>> Mudit Jain, Managing Director of DCW Ltd, has resigned from the Board of the Company due to personal reasons

>> Jain will be relieved from the services of the Company with effect from the close of business hours of October 8, 2021

12:57 PM

RBI Policy Reaction :: Jaikrishnan G, Partner & Leader, Financial Services Consulting, Grant Thornton Bharat

It’s fantastic to see the Monetary Policy Committee (MPC) maintain the status quo, leaving key triggers such as repo and reverse repo rates unchanged. This will continue to push post-COVID recovery and allow us achieve consistent durable growth in H2 of 2021, pushing us closer to reach our 9.5% GDP growth forecast. Furthermore, RBI’s focus on digital payments to ensure payment services and infrastructure reaches the last mile, by announcing a framework for retail digital payments in offline mode, will accelerate digital adoption in rural India.