You are here: Home » Markets » News
Business Standard

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Markets ended higher after the RBI maintained neutral stance in its second policy decision of FY19

SI Reporter  |  New Delhi 

Markets ended higher after the RBI maintained neutral stance in its second policy decision of FY19. The central bank hiked repo rate by 25 bps to 6.25%, in line with market expectations. This is the first rate hike in over four years, reverse repo rate adjusts to 6%. All six members on the rate panel voted for an increase. The S&P BSE Sensex ended the day at 35,179, up 276 points, while the broader Nifty50 index settled at 10,685, up 91 points RBI also revised its retail inflation estimate for 2018-19 to 4.8-4.9 per cent for the first half, and 4.7 per cent for ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank only)
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.
  • Requires you to share personal information like date of birth, income, location amongst other fields. This information alongwith your contact information will be shared with the partners associated with this program, who contribute towards subsidizing the offer. By subscribing to this product you acknowledge and accept that our Partners may choose to contact you with offers of their products and services.
  • This is an optional offer - Not comfortable with sharing personal data - please opt for the full price offer which requires you to share minimal information

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

BS Digital + FREE Monthly access to The Wall Street Journal online

Business Standard Digital - 1 Month + FREE 1 Month access to
The Wall Street Journal online*
199.00
subscribe
FREE across device access to The Wall Street Journal online*
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank only)
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Exclusive invite to select Business Standard events.

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ’s reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ’s take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • This product is a monthly auto renewal product.
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

BS Digital + Free 12 Month Access to The Wall Street Journal online

Business Standard Digital - 12 Months + FREE 12 Months access to The Wall Street Journal online*
1999.00
subscribe
Get 12 months of The Wall Street Journal online worth Rs 17165 FREE*
Single Seamless Sign-up to Business Standard Digital and The Wall Street Journal online
Convenient - Once a year payment
Pay using Credit or Debit Card
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ's reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ's take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • Saving calculated at the current WSJ price - US $ 1 for the first 3 months and US $ 28.99 thereafter Conversion scale 1 US$ = 65.04 INR
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital

Business Standard Digital - 12 Months
1999.00
subscribe
Pay as you go
Payment though credit card only
Auto renewed (Subject to your card issuer's permission)
Exclusive invite to select Business Standard events
Cancel any time in the future

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to  assist@bsmail.in Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

RBI's repo rate hike: Two factors that took the market by surprise   The decision to raise the repo rate by 25 bps is surprising for two reasons. The first is that it is being done in expectation of inflation increasing in the coming months, though the targeted rate at 4.8-4.9% is still below the 6% upper band. This was not the stance taken earlier, even as inflation increased and expectations were in the upward direction. The second is that the decision was unanimous, which has rarely been the case in past policies where not more than 2 members spoke of rate hikes or assumed a hawkish tone. READ MORE

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

MARKET COMMENT Dheeraj Singh – Head of Investments & Fund Manager – Fixed Income, Taurus Mutual Fund The decision on interest rate hike was generally expected ever since the release of the last monetary policy committee meeting minutes indicated that the committee members were leaning towards a hike in policy rates. The markets will probably take solace in the fact that the central bank continues to maintain a neutral stance and has not moved towards a removal of accommodation stance. This suggests that, unless further inflation prints are significantly higher, the August committee meeting may keep policy rates unchanged. Higher inflation in the immediate future could however increase the probability of a further increase in policy rates

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

MARKET COMMENT Motilal Oswal, chairman & managing director, Motilal Oswal Financial Services RBI Governor changed the rate little higher, as at this juncture that was the best thing to do. India is in a situation where anything sharp can hurt economy. If we raise the Interest rates too fast & too sharp and try tightening the money supply, it can hurt the corporate earnings that are just about on cusp of expanding. Lowering of interest further was not the case at all, as global volatility due to crude oil prices and rate tightening never offered that option.   At the current levels, markets are looking little expensive but for a reason of expectation of earning momentum kicking in. We think even the correction in the mid-caps is overdone and they should start stabilising. It would be a good idea to commit some capital into well-managed mid-cap mutual funds, as the recovery in earnings will bring the quick buoyancy. Broad markets are currently holding well and we think have a case to move higher towards 11,000 Nifty mark in the short term

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

MARKET COMMENT Shishir Baijal, Chairman & Managing Director, Knight Frank India The RBI’s stance of increasing the policy rate by 25bps is in line with our expectation considering that the crude oil flared inflation level and the interest rates in the broader economy have been marching higher for some time now. However, this increase in policy rate will delay the revival of the country’s housing market, which after suffering a prolonged period of slump has just begun to show early signs of improvement on account of uptick in affordable housing

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Nifty Realty index gained 1.5% COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME INDBULL.REALEST. 177.95 172.15 5.80 3.37 8607447 GODREJ PROPERT. 726.20 706.35 19.85 2.81 111348 PHOENIX MILLS 664.90 649.15 15.75 2.43 73821 OBEROI REALTY 509.15 501.55 7.60 1.52 208971 UNITECH 4.15 4.10 0.05 1.22 9894359

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Nifty PSU Bank index gains 2.5% post RBI policy COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME ALLAHABAD BANK 43.30 39.75 3.55 8.93 10478877 INDIAN BANK 347.95 330.20 17.75 5.38 1892339 UNION BANK (I) 90.60 87.00 3.60 4.14 7594762 ORIENTAL BANK 78.60 75.85 2.75 3.63 2654392 SYNDICATE BANK 48.65 47.15 1.50 3.18 2665106

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Nifty PSU Bank index gains 2.5% post RBI policy COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME ALLAHABAD BANK 43.30 39.75 3.55 8.93 10478877 INDIAN BANK 347.95 330.20 17.75 5.38 1892339 UNION BANK (I) 90.60 87.00 3.60 4.14 7594762 ORIENTAL BANK 78.60 75.85 2.75 3.63 2654392 SYNDICATE BANK 48.65 47.15 1.50 3.18 2665106

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Sectoral Trend

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Top Sensex gainers and losers

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Markets at Close The S&P BSE Sensex ended the day at 35,179, up 276 points, while the broader Nifty50 index settled at 10,685, up 91 points

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

MARKET COMMENT Ramesh Nair, CEO & Country Head, JLL India The hike may seem to dampen sentiments in the market but in terms of real estate may have little or no impact. As almost all home loans these days are on floating rates, the rise and fall in home loan rates does not impact the performance of residential real estate sector much and tends to balance each other out over long term.  As buying decisions are generally not taken based on fluctuations in home loan rates, there will be very little effect on the real estate market. Though for some home buyers looking towards making a very low ticket size purchase decision, there may be some tentativeness in the decision making, overall we will see minimal impact on the end-user in the housing sector

First Published: Wed, June 06 2018. 15:30 IST
RECOMMENDED FOR YOU

MARKET WRAP: Sensex ends 276 points higher; RBI hikes repo rate by 25 bps

Markets ended higher after the RBI maintained neutral stance in its second policy decision of FY19

Markets ended higher after the RBI maintained neutral stance in its second policy decision of FY19. The central bank hiked repo rate by 25 bps to 6.25%, in line with market expectations. This is the first rate hike in over four years, reverse repo rate adjusts to 6%. All six members on the rate panel voted for an increase. The S&P BSE Sensex ended the day at 35,179, up 276 points, while the broader Nifty50 index settled at 10,685, up 91 points RBI also revised its retail inflation estimate for 2018-19 to 4.8-4.9 per cent for the first half, and 4.7 per cent for ...

image
Business Standard
177 22