Market Close Highlights, Oct 9: Sensex sheds 167pts, Nifty nears 25k; RBI MPC holds rates at 6.5%

Stock Market Today: RIL, ITC, Nestle India, ONGC, and Hindustan Unilever were among the top laggards on the NSE Nifty50, with losses extending up to 3.04 per cent on Wednesday

3:53 PM

Nifty Outlook: 'Drop below 24,940 could trigger a correction till 24,700'

On the hourly chart, the index closed just above the 20-DMA, indicating that the very short-term trend remains positive and is likely to stay so as long as it holds above 24,940. However, a drop below 24,940 could trigger a correction down to 24,800/24,700. On the upside, 25,100 may act as resistance.

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

3:51 PM

Stock Market Comment: 'Upward revision in Q3FY25 inflation led investors to book profit towards'

An upward revision in Q3FY25 inflation reiterates that the sticky inflation continues to remain a concern for the RBI and led investors to book profit towards the close. The volatility in input prices and the impact on margin dragged the FMCG stocks. The change in RBI's stance to neutral was favourable and expected, but the commentary is not pointing for a rate cut in the near term. Meanwhile, the investor’s sentiment is buoyed on the broad market taking opportunity on a stock-to-stock basis, to capitalise from the recent correction.

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

3:49 PM

Stock Market Close Highlights: Yields on 10-year Bond hardens after RBI policy

>> RBI keeps policy repo rate unchanged at 6.5%

>> Changes stance to 'Neutral' from 'Withdrawal of Accommodation'

>> Yields fell but hardened later as markets expect delayed rate cut by RBI

3:46 PM

Stock Market Close Highlights: Rupee ends flat vs US dollar

Rupee ends at 83.96 per US dollar on Wednesday, unchanged from Tuesday's close
 

3:44 PM

Stock Market Close Highlights: Mid, SmallCap indices shine today

Stock Market Highlights, Oct 9: BSE MidCap and SmallCap indices end 1% higher vs negative close for benchmarks

3:43 PM

Stock Market Close Highlights: FMCG index slips over 1% in trade today

Stock Market Highlights, Oct 9: FMCG index slips 1.5% after RBI flags near-term inflationary concerns

>> Nifty Bank ends flat with negative bias

>> Nifty Realty rises 2%

3:39 PM

Stock Market Close Highlights: Profit booking in FMCG, RIL, HDFC Bank stocks weigh on Sensex

Stock Market Highlights, Oct 9: 13 of 30 Sensex stocks slipped in trade today, weighing on the index

>> ITC, Nestle India, RIL, HUL, L&T, IndusInd Bank, HDFC Bank, Tata Steel, and Adani Ports were the top Sensex losers today, down up to 3%

3:36 PM

Stock Market Close Highlights: Nifty ends below 25,000

Stock Market highlights, Oct 9: NSE Nifty ended at 24,981.95, down 31.20 points or 0.12%

>> Nifty50 hit a high of 25,234.05 during the day before paring gains in fag-end

3:33 PM

Stock Market Close Highlights: Sensex ends lower after 1-day hiatus, erases RBI-led gains

Stock Market Highlights, Oct 9: Benchmark BSE Sensex ended lower today

>> BSE Sensex today settled at 81,467.10, down 167.71 points or 0.21%

>> BSE Sensex hit a high of 82,319.21 and a low of 81,342.89 during the day

3:28 PM

Stock Market LIVE Updates: ValueQuest India Moat acquires 1.17% stake in MSTC; shares skyrocket 17%

MSTC is a Schedule-B, Mini Ratna Category-1 Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Steel (MOS), Government of India (GOI). Delivering innovative e-commerce solutions across various sectors, MSTC has been digitalising various B2B & G2B transactions. Currently, MSTC is providing comprehensive e-commerce services, including e-auctions, e-sales, e-procurement, e-tenders, etc., along with specialised customised software solutions, meeting each and every requirement of its clients. As per the information available on the company's official website, presently, the Government of India has 64.75 per cent shareholding in the company. READ MORE

3:18 PM

Stock Market LIVE Updates: Cabinet approves fortified rice scheme till Dec 2029

3:13 PM

Stock Market LIVE Updates: HDFC Bank, RIL, ITC, L&T, HUL among top Sensex draggers

Stock Market LIVE Updates: Heavyweights like HDFC Bank, RIL, ITC, HUL, L&T, Hestle India, and NTPC were down between 1 per cent and 3 per cent, weighing on markets

3:07 PM

Stock Market LIVE Update: Sensex at day's low, down over 200 pts

Stock Market LIVE Updates: Benchmark indices turned lower in fag-end.

The BSE Sensex is trading over 200 points lower at 81,385 dragged by ITC, Nestle, RIL, HDFC Bank

2:58 PM

Stock Market LIVE Updates: This smallcap has surged 18% on heavy volumes; zoomed 112% in 4 months

Stock Market LIVE Updates: Ceinsys Tech shares hit a new high of Rs 848.40, as they zoomed 18 per cent on the BSE in Wednesday’s intraday trade amid heavy volumes after the company received a Letter of Award (LoA) from the State Water and Sanitation Mission (SWSM), Water Supply and Sanitation Department (WSSD), Government of Maharashtra, amounting to Rs 332 crore. READ MORE

2:53 PM

Stock Market LIVE Updates: Easy Trip Planners board to meet on Oct 14 to consider issue of bonus shares

Stock Market LIVE Updates: Easy Trip Planners board to meet on October 14 to consider and aprove issue of bonus shares.

Source: BSE

2:50 PM

Stock Market LIVE Updates: Welspun Ent gains 4% on securing order worth Rs 1,989 cr from BMC in Mumbai

Stock Market LIVE Updates: Welspun Enterprises shares gained 4 per cent and registered an intraday high of Rs 560.85 per share. Welspun Enterprises share price climbed after the company received a letter of acceptance from Brihanmumbai Municipal Corporation (BMC) worth Rs 1,989.4 crore to design and construct Tertiary Treated Water Conveyance Tunnel from Dharavi Wastewater Treatment Facility (WWTF) to Ghatkopar. READ MORE

 

2:48 PM

Stock Market LIVE Updates: Seven & i stock rises after report of Couche-Tard raising buyout bid by 20%

Stock Market LIVE Updates: Japan's Seven & i Holdings said on Wednesday it had received a revised takeover bid from Canada's Alimentation Couche-Tard (ACT), which was raised to around $47 billion from $38.5 billion, according to two people familiar with the matter. If it were to go ahead, the deal for the 7-Eleven owner would be the largest-ever overseas buyout of a Japanese firm. READ MORE

2:45 PM

Stock Market LIVE Updates: Signature Global Q2 bookings jump nearly 3-fold on strong housing demand

Stock Market LIVE Updates: Realty firm Signature Global has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter of this fiscal year on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. READ MORE

2:41 PM

Stock Market LIVE Updates: Swiggy's $271 mn Esop plan benefits top brass before $1.25 bn IPO launch

Stock Market LIVE Updates: Food and grocery delivery giant Swiggy, which is gearing up for its highly anticipated initial public offering (IPO), has earmarked a substantial $271 million in employee stock options (Esops) for its founders and senior executives as part of its latest stock-based compensation plan, as revealed in its pre-listing prospectus. READ MORE

2:32 PM

Stock Market LIVE Updates: RBI enhances limits for UPI123 Pay, UPI Lite to encourage wider adoption

Stock Market LIVE Updates: The Reserve Bank of India (RBI) on Wednesday enhanced transaction limits for UPI123Pay and UPI Lite to encourage wider adoption of these UPI products. Customers using UPI123Pay, which provides UPI functionality on feature phones, will now have a per-transaction limit of Rs 10,000, up from the previous cap of Rs 5,000. READ MORE

2:27 PM

Stock Market LIVE Updates: Singapore keeps monetary policy unchanged as inflation risks linger

Stock Market LIVE Updates: Singapore's central bank is widely expected to keep monetary policy unchanged next week and hold off easing settings amid inflation and growth uncertainties caused by geopolitical tensions. READ MORE

 

2:25 PM

Stock Market LIVE Updates: 'Overall (RBI's) policy decision... supports continued investment and spending'

Stock Market LIVE Updates: "While the RBI’s decision to maintain the repo rate at 6.5 per cent status quo reflects a calibrated approach amidst global uncertainty... By shifting from a ‘withdrawal of accommodation’ stance to a more neutral position, the central bank has signalled its intent to remain nimble and responsive to future shifts in economic dynamics, both domestically and globally. This stance allows the RBI to prioritise inflation control while remaining open to potential rate cuts if the economic outlook deteriorates or if geopolitical tensions abate. 

Despite some incipient signs of growth slowdown emerging in some of the high frequency indicators , the RBI has expressed confidence in maintaining FY25 GDP growth at 7.2 per cent, thus reinstating its belief in India’s underlying economic resilience. 

Overall this policy decision ensures stability in bond yields and borrowing costs, thereby supporting continued investment and spending. 

Going forward bond markets are likely to closely monitor the evolving global landscape along with the domestic upcoming festive season and CPI Inflation trajectory to start pricing in accommodative measures by MPC in ensuing meetings."

Views by: Niraj Kumar - Chief Investment Officer at Future Generali India Life Insurance

 

2:14 PM

Stock Market LIVE Updates: ITC, HUL, Airtel among 5 Nifty stocks to avoid as market bounces back

Stock Market LIVE Updates: The NSE Nifty 50 index has gained 2 per cent from its recent low of 24,700-odd levels. The recent gains are seen as a pullback as the Nifty had plunged over 1,550 points in preceding six trading sessions. 

 

Technical chart suggests that the Nifty pullback may continue till the 25,500 to 25,800 levels; provided the index manages to sustain above 25,050 levels. READ MORE

2:01 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty off day's high; trade in green

Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 were trading in the green, after the Reserve Bank of India Governor Shaktikanta Das announced that the RBI MPC has decided to hold rates at 6.5 per cent. 

 

At 2 PM, the BSE Sensex was up 252 points, or 0.31 per cent, at 81,886.90, while the Nifty 50 was up 98.90 points, or 0.4 per cent, at 25,112.05.

1:54 PM

Stock Market LIVE Updates: Auto, Bank, Realty: Trading strategies in rate sensitive post RBI policy

Stock Market LIVE Updates: The Reserve Bank of India (RBI) appointed the Monetary Policy Committee (MPC) in their fifth bi-monthly review in the calendar year 2024 decided to keep the repo rate unchanged at 6.5 per cent. Speaking on the occasion, the RBI governor Shaktikanta Das said, the MPC Committee, along with the 3 new external members, voted in favour of keeping rates untouched.

 

Further, the RBI governor said the policy stance was 'Neutral' and the MPC to remain unambiguously focussed on a durable alignment of inflation with its target while supporting growth. READ MORE

1:43 PM

Stock Market LIVE Updates: 'Change in monetary stance gives MPC flexibility to react to evolving variables'

Stock Market LIVE Updates: “The unanimous change in the monetary policy stance by the MPC to "Neutral" and remaining unambiguously focused on a durable alignment of inflation with the target, while supporting growth, sets the stage for reduction in the policy rates going ahead. 

The change in the monetary stance gives flexibility to the MPC to react to evolving macro-economic variables and markets will now start discounting policy rate cuts over the next quarter and we continue to expect yields to keep drifting lower.”

Views By: Puneet Pal, Head- Fixed Income, PGIM India Mutual Fund

 

1:40 PM

Stock Market LIVE Updates: Time to think contrarian in market; pick quality over value: Nimesh Chandan

Stock Market LIVE Updates: A correction in the Indian stock market was long overdue, and the escalation in Iran-Israel war, coupled with surging oil prices, only provided an external trigger, says NIMESH CHANDAN, chief investment officer (CIO) at Bajaj Finserv AMC.

 

In an email interview with Nikita Vashisht, Chandan says large-caps offer better risk-reward in the current market and investors may undertake contrarian bets for long-term wealth creation. READ MORE

1:26 PM

Stock Market LIVE Updates: RBI policy: Prelude to future rate cuts? Inflation numbers hold the key

Stock Market LIVE Updates: The major takeaway from the credit policy is the change in stance, as it was unexpected. The fact that this was unanimous points to a common view taken by all the six members. This is important because it is largely assumed that a change in stance to ‘neutral’ is a prelude to a rate cut possibility in the future policies.

This follows from the view that changing both the repo rate and the stance at the same time is not appropriate, as the power of the stance gets diluted when they are done in unison. READ MORE

1:12 PM

Stock Market LIVE Updates: IPO lock-in exit wave: Bharti Hexacom, Bajaj Housing, DOMS, among others

Stock Market LIVE Updates: India's primary markets have experienced remarkable growth this year, with 120 companies successfully listing through initial public offerings (IPOs), according to BSE data.

Citing data from the National Stock Exchange (NSE), a recent report by IIFL Securities highlights that several companies, including Bharti Hexacom, Bajaj Housing Finance, Mankind Pharma, Ola Electric Mobility, Baazaar Style Retail, and Indegene, are set to exit their pre-listing shareholder lock-in period following their successful IPOs and market debut on D-Street. READ MORE

1:03 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty maintain lead after RBI holds repo rate at 6.5%

Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 were trading in the green on Wednesday, after RBI governor Shaktikanta Das announced that the RBI MPC has decided to hold rates at 6.5 per cent. 

He also said that the central bank's policy stance has changed to 'neutral' from 'withdrawal of accomodation' earlier.
 

At 1 PM, the BSE Sensex was up 347 points, or 0.43 per cent, at 81,981.84, while the Nifty 50 was up 124.40 points, or 0.5 per cent, at 25,137.55.