Stock Market Highlights: Sensex, Nifty snap 5-day winning run post RBI policy; Auto shares gain

Markets Highlights: Broader markets outperformed the benchmarks indices on Friday after the RBI left key rates unchanged and announced a 50 bps cut in CRR, while lowering its GDP forecast

3:52 PM

Expert Comments:: Overall market exhibited a mixed outlook

"Though benchmark indices concluded on a flattish trend, Indian broader indices displayed optimism as the RBI acknowledged the downward growth trend while last-mile inflation persisted. By lowering the CRR and injecting ₹1.16 lakh crore into the financial system, the RBI aims to stimulate economic growth amid increased liquidity. The overall market exhibited a mixed outlook, reflecting a cautious yet resilient stance, with sector rotation and specific stock movements shaping market sentiment."

 - Views expressed by Vinod Nair, Head of Research, Geojit Financial Services

3:51 PM

Stock Market Highlights: Market breadth was fairly positive; 233 stocks hit new 52-week high on BSE

 

3:49 PM

Stock Market Highlights: PB Fintech, Delhivery, Jubilant Foodworks among major MidCap winners

 

3:47 PM

Stock Market Highlights: Sectorally Auto and Metal indices gained around 1%

 

3:44 PM

Stock Market Highlights: Broader indices outperform; India VIX dips 3%

 

3:42 PM

Stock Market Highlights: Auto shares top movers among Sensex 30; Adani Ports, Airtel slip

3:36 PM

Stock Market Highlights: Nifty 50 index declined 31 pts to 24,678

 

3:34 PM

Stock Market Highlights: BSE Sensex snaps 5-day winning run, ends 57 pts lower at 81,709

 

3:25 PM

Dividend, Bonus, Stock-split: These 5 stocks to turn ex-date next week

Shares of Ceenik Exports (India), Achyut Healthcare, Shradha AI Technologies, Quasar India, and Exxaro Tiles will remain in the spotlight next week following their corporate announcements such as dividends, bonus issues, or subdivisions. Notably, all these stocks will trade ex-date next week, as per BSE data. READ MORE

3:18 PM

Paytm to sell Japan's PayPay stake to SoftBank for $250 mn to boost capital

The sale is part of Paytm’s broader strategy to offload non-core assets and strengthen its capital base, enabling a sharper focus on its core payments business after a challenging year. Earlier in 2024, the company sold its entertainment ticketing business, Paytm Insider, to Zomato for Rs 2,048 crore. READ MORE

3:12 PM

Expert Opinion on RBI Policy: Rate cut expected in February 2025

Reserve Bank of India (RBI) has maintained status quo on interest rate but has announcement measure to provide liquidity support through two cuts of 25 bps each in CRR to free up Rs 50,000 crore in the banking system ahead of the busy season. The central bank seems to be confident on improvement in the demand trend and industrial growth on the back of increase in government capex and a better rural demand. However, given the inflationary concerns, the goal post for next rate cut seem to have shifted to Feb 2025 now. We remain constructive on equity markets and prefer large caps over small caps and have positive view on IT, real estate, banks, consumer, Pharma and engineering/capital goods sector.

 - Views expressed by Gaurav Dua, SVP and Head – Capital Market Strategy, Mirae Asset Sharekhan

3:07 PM

Vedanta soars 7% amid heavy volumes on healthy outlook

Shares of Vedanta moved higher by 7 per cent to Rs 505.45 on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise subdued market on a healthy outlook. Vedanta Resources (VRL) holds 56.3 per cent stake in Vedanta and has diversified operations across the metals, mining, power, and oil and gas segments. READ MORE

3:01 PM

Stock Market LIVE Updates: 3 PM Market Update - Sensex, Nifty maintain lower levels

Stock Market LIVE Updates:  Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading on a muted note on Friday, after RBI Governor Shaktikanta Das announced to maintain status quo on key repo rates today.

At 3 PM, the BSE Sensex was at 81,667, lower by 98.57 points, or 0.12 per cent, while the Nifty 50 was at 24,677, behind by 30.90 points, or 0.13 per cent.

 

2:56 PM

Stock Market LIVE Updates: 'Rate cut expectation shifts to February; Nov/Dec data are key now'

Stock Market LIVE Updates: "As expected, three things happened: no change in repo rate, CRR cut (by 50 bps) to 4.0 per cent, GDP growth forecast for FY25 is revised downwards to 6.6 per cent (vs 7.2 per cent).

CRR cut helps in boosting liquidity. With this liquidity, banks don't have to chase deposits at higher rates; some comfort here. This should help in NIM improvement albeit modestly as the rate cut is looming in near future. Rate cut expectation shifts to February; Nov/Dec data are key now."

Views by: Manish Jain, Director - Institutional Business (Equity & FI) division at Mirae Asset Capital

 

2:53 PM

Stock Market LIVE Updates: IPO market heats up: Vishal Mega Mart, Mobikwik; 6 more to open next week

Stock Market LIVE Updates: Indian primary markets are gearing up for a dynamic week ahead, with three mainline initial public offerings (IPOs), including Vishal Mega Mart and Mobikwik, set to open for public subscription alongside five SME IPOs. 

 

This surge in activity underscores a bustling year for the primary markets, as 138 companies have gone public so far, according to BSE data. Of these, 76 companies have launched on the mainboard, presenting ample investment opportunities. READ MORE

 

 

2:48 PM

Stock Market LIVE Updates: 'In case there's no inflation shocks, Feb review could see a repo rate reduction'

Stock Market LIVE Updates: “While being cognisant of the incoming growth inflation mix, prudence and practicality required the RBI to address the issue of declining core liquidity.

The CRR cut by 50 Bps provides adequate signalling with respect to the direction of monetary policy going forward. In the near term we could anticipate other fine tuning liquidity measures such as repo auctions apart from screen-based OMO in case core liquidity tightens further.

Given the Q2FY26 CPI projections, in the absence of any incremental inflation shocks, the Feb review could be live for a repo rate reduction”.

Views by: Rajeev Radhakrishnan, CIO - Fixed Income, SBI Mutual Fund

 

2:41 PM

Stock Market LIVE Updates: 'Steps by RBI to align with broader international central bank actions over time'

Stock Market LIVE Updates: RBI gives preference to INR stability and Inflation, says Umeshkumar Mehta, CIO, SAMCO Mutual Fund 

"The RBI has clearly prioritised currency stability amidst a global environment of rate cuts by major central banks. While signs of an economic slowdown are visible, the Governor has resisted pre-empting a rate cut, focusing instead on controlling inflation, which has breached the upper tolerance band driven by buoyant food prices. However, as global monetary easing continues, the steps taken by the RBI are likely to align with broader international central bank actions over time to maintain stance in line with global monetary developments."

Views by: Umeshkumar Mehta, CIO, SAMCO Mutual Fund

 

2:34 PM

Stock Market LIVE Updates: Ola Electric slips 3% after CCPA soughts additional documents & information

Stock Market LIVE Updates: Ola Electric shares lost 3 per cent on Friday and logged an intraday low of Rs 95.5 per share. The stock slipped after the Central Consumer Protection Authority (CCPA) sought additional documents and information from Ola Electric with regard to the show cause notice issued in October related to 10,644 complaints. READ MORE

2:29 PM

Stock Market LIVE Updates: GRSE gains 4% on winning order for construction of 4 multi-purpose vessels

Stock Market LIVE Updates: Garden Reach Shipbuilders & Engineers shares gained 3.9 per cent on Friday and logged an intraday high of Rs 1,828.8 per share. The buying in the stock came after the company bagged an order for construction and delivery of an additional 4 multi-purpose vessels of 7,500 DWT. READ MORE 

2:25 PM

Stock Market LIVE Updates: BSE shares extend rally, surge 18% in 2 days; nearly double within 3 months

Stock Market LIVE Updates: Shares of BSE hit a new high of Rs 5,409.65, gaining 4 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade backed by heavy volumes. In the past two days, the stock price of exchange and data platform company has rallied 18 per cent. It surpassed its previous high of Rs 4,989.80 touched on October 14, 2024. READ MORE 

2:18 PM

Stock Market LIVE Updates: JP Morgan gives 'overweight' rating to 4 Adani bonds on growth capability

Stock Market LIVE Updates: US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. READ MORE

2:13 PM

Stock Market LIVE Updates: Waaree Energies up 5% after Gujarat's PV Module Lab gets NABL accreditation

Stock Market LIVE Updates: Waaree Energies shares gained 4.7 per cent on Friday and logged an intraday high of Rs 2,974.9 per share. The counter saw buying after the company's manufacturing facility in Chikhli, Gujarat, secured NABL accreditation for its PV Module Test Lab (PMTL). READ MORE

2:02 PM

Stock Market LIVE Updates: 2 PM Market Update - Sensex, Nifty trade lower

Stock Market LIVE Updates:  Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading muted on Friday, after RBI Governor Shaktikanta Das announced to maintain status quo on key repo rates today.

At 2 PM, the BSE Sensex was at 81,706, lower by 58.99 points, or 0.07 per cent, while the Nifty 50 was at 24,684, behind by 24.40 points, or 0.1 per cent.

 

1:50 PM

Stock Market LIVE Updates: CRR cut impact - 'Banks with higher floating rates' share to face margin pressures'

Stock Market LIVE Updates: "The status quo on rates along with the regulator maintaining its ‘Neutral’ stance was anticipated. With the recent GDP print undershooting the RBI’s expectations sharply, a downward revision to the GDP growth forecast was imminent. Similarly, with the recent inflation numbers significantly higher than that of the RBI’s tolerance limit, the inflation forecasts have been revised upwards for FY25 with it tapering to the RBI’s tolerance limit by Q2FY26. We expect the rate cut cycle to begin from Feb’25 onwards, while balancing between growth and inflation.

The CRR cut of 50bps in 2 tranches to 4 per cent would help improve the liquidity conditions while supporting growth. We believe this would lend slight support to NIMs for banks. With a rate cut possible in Feb’25, banks with higher share of floating rates would face pressures on margins, as CoF would revise downwards with a lag. The latest data shows convergence of credit and deposit growth rates, mainly owing to slowdown in credit growth. Asset quality challenges especially amongst banks with the higher exposure to the unsecured segments was visible in the previous quarters and we expect stress to persist in H2, thereby keeping credit costs higher in H2. Currently, we continue to prefer the larger banks with our top picks being HDFC Bank, ICICI Bank, SBI and Bank of Baroda." 

Views by: Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS

 

1:44 PM

Stock Market LIVE Updates: RBI allows small finance banks to offer pre-sanctioned credit line on UPI

Stock Market LIVE Updates: The Reserve Bank of India (RBI) on Friday allowed small finance banks to offer pre-sanctioned credit lines through Unified Payments Interface (UPI). Previously, only scheduled commercial banks were allowed to offer pre-sanctioned credit lines on the flagship payments platform.

 

“This will further deepen financial inclusion and enhance formal credit, particularly for ‘new to credit’ customers,” said the RBI after the monetary policy kept the key interest rate unchanged but cut the cash reserve ratio that banks are required to hold. READ MORE

 

1:43 PM

Stock Market LIVE Updates: What does RBI's policy decision mean for the markets? Experts weigh

Stock Market LIVE Updates: The Reserve Bank of India (RBI) today, December 6, in its policy decision kept the repo rate unchanged at 6.5 per cent but cut the cash reserve ratio (CRR) by 50 basis points (bps) to 4 per cent. The CRR is the percentage of a bank's total deposits that it is required to maintain in liquid cash with the RBI as a reserve.

 

The RBI Monetary Policy Committee (MPC) also lowered the economic growth forecast to 6.6 per cent for FY25 from the earlier projection of 7.2 per cent and revised India's Consumer Price Inflation (CPI) forecast for financial year 2025 to 4.8 per cent from 4.5 per cent earlier. READ MORE

 

1:32 PM

Stock Market LIVE RBI Presser: RBI Dy Gov Patra on tariffs and its effects on rupee

Stock Market LIVE RBI Presser: RBI Dy Gov Patra, says tariffs, hypothetically if they happen, will not be an isolated event. There will be other events around it, like for instance, they say that per haps China may retailiate by devaluing its currency, or there might be retaliatory tariffs. 

At this point, it is very difficult to say what will be a unilateral move, and unilateral effect. So let's wait for general equilibrium.

1:26 PM

Stock Market LIVE RBI Presser: RBI Gov Das on Donald Trump's policies and tariff threats

Stock Market LIVE RBI Presser: RBI Governor Das says, we've to wait for the policies to come. The BRICS currency was an idea floated by one of the member countries, and it was discussed. No decision has been taken on the matter.

 

The geographical spread of the countries is also a factor that has to be kept in mind; unlike the Euro Zone, BRICS countries are spread all over. 

With regard to de-dollarisation, so far as India is concerned, there is no step that we've taken. All that we've done is that we've permitted opening of vostro accounts, and we've entered into agreements with two countries to do local-currency denominated trade. 

That is basically to de-risk Indian trade. Dependence on one currency can be probelamatic at times.

De-dollarisation is not our objective.

1:18 PM

Stock Market LIVE RBI Presser: RBI Dy Governor Swaminathan on MFIs

Stock Market LIVE RBI Presser: RBI Dy Governor Swaminathan, says there are certain segments, we saw increased slippages in the Q2 numbers that were emerging. These were not very surprising for us, as these were the segments that saw an outlier growth in the year before, and we'd taken some proactive measures on that.

In the August MPC statement, Gov Das had said, "In these segments, where enhanced slippages is being witnessed, we've requested the banks and NBFCs to strengthen their underwriting standards and to step up on their collection efforts to ensure that the stress does not translate into NPAs.

On the same theme, we continue to engage with entities, where ever we see any outlier behaviour. 

At the system level, it is still not a big concern; about 20-30 bps uptick in stress is something we're confident that the entities will be able to handle. In certain entities where these numbers are a little outlier, we'll deal with them on a bilateral basis, examining the steps that they're taking.

1:08 PM

Stock Market LIVE RBI Presser: RBI Dy Governor Swaminathan on unsecured loans and growth in gold loans

Stock Market LIVE RBI Presser: RBI Dy Governor Swaminathan says, the growth in unsecured loans when we took additional micro prudential measures last year was essentially to curb the exuberance that we saw in that segment, so that any possible stress is avoided. That was the intention.

In terms of what should be the product mix as to how the banks should drive their business is purely a business call. And gold being a collateralised loan, the banks and NBFCs have shown a preference to grow it.

It is more important for us to ensure that there is fairness towards their conduct towards the customers. And there appropriate norms related to LTV, income to repayment obligations are being adhered to in a fair manner.