Stock Market Highlights, April 5: Sensex, Nifty end flat after RBI policy; Bank, realty, FMCG shares rally

Stock market updates on Friday, April 05: Among sectors, the Nifty Realty index gained 1.5 per cent, followed by the Nifty Bank (up 0.9 per cent).

3:50 PM

Comment :: 'Concerns over food inflation, warnings of heat wave tampered sentiment'

Although the RBI policy meeting unfolded as anticipated, concerns over food inflation and warnings of a heat wave tampered sentiment. While the main domestic indices concluded with marginal movement, the Bank Nifty edged higher, propelled by robust credit growth in Q4FY24. The global sentiment was dampened by the rise in oil prices and tensions in the Middle East. Investors remain attentive to upcoming US non-farm payroll and unemployment data, seeking clarity on the Federal Reserve's future rate path.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:47 PM

Tech View :: 'Fresh rally not anticipated in Nifty if it remains below 22,650'

The index has remained sideways throughout the session, reflecting a pause in the market trend following the formation of a hanging man pattern. The sentiment may continue to remain sideways due to the lack of a directional breakout or pattern formation.

At the higher end, 22,650 might prove to be a crucial resistance level. A fresh rally is not anticipated as long as the index remains below 22,650. On the lower end, support is evident at 22,300; if breached, the index might decline towards the 22,000-21,900 range.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:44 PM

Tech View :: 'Bank Nifty may hit 50,000 next week'

Following the RBI policy announcement, the Bank Nifty maintained its robust momentum, remaining above the crucial level of 48,000. This suggests the potential for reaching new all-time highs next week, possibly even touching the 50,000 mark. Notably, aggressive put writing has been observed at lower strikes, establishing a supportive base in the 48,200-48,000 zone, which is anticipated to serve as a cushion for bullish sentiment

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:42 PM

Bond Market :: Yields on 10-year securities rise post RBI policy

3:41 PM

Currency check :: Rupee gains 15 paise vs US dollar on Friday

3:40 PM

Broader markets :: Mid, SmallCap indices add 0.5% each

3:39 PM

Sensex Heatmap :: Financials lift index into green zone

3:37 PM

Closing Bell :: Nifty ends unchanged after RBI policy emerges as 'unenthusiastic'

3:36 PM

Closing Bell :: Sensex ends flat after range-bound session

3:28 PM

Bank of Maharashtra reports 16% credit growth in Q4 at Rs 2.03 trn

The Pune-headquartered lender reported 15.63 per cent increase in total deposits to Rs 2.70 trillion as against Rs 2.34 trillion at the end of the fourth quarter of the previous financial year. READ MORE

3:15 PM

ALERT :: Linde India slides 4% amid report of Sebi prove against Co

3:01 PM

Marico expects revenue growth in Q4 after three quarters of fall, shares up

Consumer goods makers have grappled with subdued sales in rural areas in recent quarters as people cut back spending on both essentials and discretionary items amid price pressures. READ MORE

2:55 PM

Emmanuel Macron says 'no doubt' Russia will try to target Paris Olympics

French President Emmanuel Macron believes Russia could try to sabotage the Paris Olympics, including in terms of manipulation of information, which is a part of "Russia's arsenal of warfare" today. READ MORE

2:47 PM

This recently listed stock has zoomed 76% in 50 days; up 116% against issue price

In past three days Inox India has surged 19% after the company said it received new patent rights from Government of India. READ MORE

2:39 PM

Ukraine fires over 50 drones against Russia in one of biggest air attacks

Russia's Defence Ministry said a total of 44 drones were intercepted and destroyed in the Morozovsky district, more than 100 kilometers (60 miles) from the border. READ MORE

2:32 PM

Comment: We expect RBI to continue to manage liquidity through VRR/VRRR route

“Outcome of the Monetary policy committee (MPC) hac come along the expected lines. The policy was balanced especially given the backdrop of current macro-environment challenges of geopolitics and commodity prices etc. The bond markets traded with a slight negative bias post policy announcement as section of the market was expecting change of stance. We expect the RBI to continue to manage the liquidity conditions through existing tools of VRR/VRRR to keep overnight rates around repo rate.”

 

Views by: Sachin Bajaj, Executive Vice President & Head – Investments, Max Life Insurance

 

2:21 PM

IREDA surges 13% on heavy volumes; zooms 32% in 1 week post FY24 biz update

Further, both the BSE and NSE revised the circuit filter for the stock from 5% to 20% with effect from today. READ MORE

2:10 PM

RBI reiterates FX exposure must for rupee exchange derivative transactions

The requirement of underlying exposure for rupee derivatives has always been the central bank's policy "for the last so many years", the central bank's Governor Shaktikanta Das said at a post policy media conference. READ MORE

2:00 PM

China too big to export its way to rapid growth, says Janet Yellen

US Treasury Secretary Janet Yellen said on Friday that China is too large to try to export its way to rapid growth and would benefit by reducing excess industrial capacity that is pressuring other economies. READ MORE

1:51 PM

Breakout stocks: CoForge, TechM, Sonata can rally up to 14%, suggest charts

The Nifty IT index as underperformed the benchmark Nifty 50 so far this year. Will the upcoming Q4 results revive sentiment at these counters? Charts suggest that these 4 IT stocks look promising. READ MORE

1:40 PM

UPI's new feature: Soon, you can deposit cash at ATMs through UPI, says RBI

In a significant decision, the Reserve Bank of India (RBI) on Friday said it will soon facilitate cash deposit facilities in banks through the use of the popular UPI. READ MORE

1:30 PM

Indraprastha Medical zooms 20% after HDFC Bank offloads 3% stake

HDFC Bank said that out of 5.03 million equity shares held by it as on February 28, the Bank has sold 2.78 million shares. READ MORE

1:19 PM

Comment: RBI highlights geopolitical developments, high debt as key risks

Liquidity, RBI has mentioned that they would be actively deploying approximate mix of instruments to modulate frictional and durable liquidity. The risks highlighted by RBI needs close monitoring. These include continuing geopolitical developments and high public debt in both Advanced and emerging market economies which remains a concern. In addition, supply chains and commodity prices including recent uptick in Brent prices remain sensitive to these tensions. We feel fixed income markets could be reacting to demand-supply dynamics, liquidity as well as flows while remaining watchful on global developments including developments by global central banks like FED and Bank of Japan.

 

Views by: Gurvinder Singh Wasan, CFA, Senior Fund Manager and Credit Analyst – Debt, JM Financial Asset Management

 

1:10 PM

RBI to soon launch app for retail investors to participate in govt bonds

The Reserve Bank on Friday announced the launch of a mobile app to enable retail investors to participate in government securities (G-Secs) or government bonds market. READ MORE

1:03 PM

RBI lowers quarter-wise inflation forecast for FY25, holds key rate steady

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Friday lowered its consumer price index (CPI) inflation forecast for the first, second, and the fourth quarter of Financial Year 2024-25 (FY25). Inflation in the second quarter is projected at 3.8 per cent, below the central bank's target of 4 per cent. READ MORE

12:52 PM

Rate sensitive shares trade firm as RBI keeps repo rate unchanged at 6.5%

Shares of rate sensitive sectors such as financials, realty and automobiles are trading firm and outperforming the benchmark index after the Reserve Bank of India's Monetary Policy Committee (RBI MPC) decided to keep the repo rate unchanged at 6.5 per cent for the seventh consecutive time, Governor Shaktikanta Das announced on Friday. READ MORE

12:40 PM

RBI wants 'inflation elephant' in forest. Can high oil price bring it back?

The Reserve Bank of India (RBI) maintained status quo on rates for the seventh consecutive time on Friday, but remains watchful as regards the developing geopolitical situation that may trigger a further rise in crude oil prices, thereby impacting the inflation trajectory back home.

After witnessing sustained moderation, cost push pressures faced by firms, the RBI said, are showing upward bias. Geo-political tensions and volatility in financial markets, it said, also poses risks to the inflation outlook. Read more

 

12:34 PM

RBI PC LIVE: Moving towards RBI@100, focus to be on financial stability, financial sector promotion, says Das

12:20 PM

RBI Policy PC: Exchange trading FX derivatives for hedging only

12:20 PM

RBI Policy PC: Food inflation from protein products return in periodical spikes; needs to be watch: Patra