Equity indices close higher after RBI keeps key rates unchanged
Video Credit: ANI - Duration: 01:15s - Published
Equity indices close higher after RBI keeps key rates unchanged
Equity benchmark indices maintained an upward trajectory on Friday after the Reserve Bank of India's (RBI) kept repo rate unchanged and continued with accommodative stance.
Though the central bank sees FY21 GDP contracting by 9.5 per cent and may turn positive in Q4, several market experts said many measures have been introduced to maintain comfortable liquidity conditions.
The BSE SandP Sensex closed 327 points or 0.81 per cent higher at 40,509 while the Nifty 50 gained by 80 points or 0.67 per cent at 11,914.
The Reserve Bank of India (RBI) kept the repo rate unchanged at 4 per cent and maintained the policy stance at accommodative. The RBI's Monetary Policy Committee (MPC) made a unanimous decision to maintain status-quo after a three-day meeting that began on December 2.The reverse repo rate also remains steady at 3.35 per cent, RBI Governor Shaktikanta Das said. “MPC decided to continue with accommodative stands of monetary policy as long as necessary, at least till current financial year and into next year to revive growth on a durable basis and mitigate the impact of Covid-19 while ensuring that inflation remains within the target,” Das said. Watch the full video for more.
Credit: HT Digital Content Duration: 01:34Published
Addressing the media in Mumbai on December 04, Reserve Bank of India (RBI) Governor Shaktikanta Das said the central bank has predicted the real GDP growth for the year 2020-2021 at minus 7.5 percent on account of the COVID-19 pandemic. Das said, "The real GDP growth for 2021 is projected at minus 7.5%. The recovery in rural demand is expected to strengthen further while urban demand is also gaining momentum." "We are projecting GDP growth for Q3 at +0.1% and +0.7% for Q4,' RBI Governor added.
Reserve Bank of India on December 04 said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 4 percent. All the members unanimously voted in favour of maintaining the status quo, informed RBI Governor Shaktikanta Das. "The Monetary Police Committee met on 2nd, 3rd and 4th December. It reviewed current macroeconomic and financial developments, both domestic and global, and the evolving outlook for the Indian economy. At the end of its deliberations, the MPC voted unanimously to leave the policy repo rate unchanged at four percent. It also decided to continue with the accommodative stance of monetary policy as long as necessary, at least through the current financial year and into the next year to revive growth on a durable basis, and mitigate the impact of COVID-19 while ensuring that inflation remains within the target going forward," Das told the media in Mumbai.
Equity benchmark indices opened flat on Friday with Sensex up by 105 points and Nifty up by 23 points. At 10:05 am, the BSE S-P Sensex was up by 105 points or 0.26 per cent at 39,833 while the Nifty 50 gained by 23 points or 0.20 per cent at 11,730. Among stocks, BPCL rose by 2.28 per cent. Indusind Bank was up by 1.28, Kotak Bank up by 1.18 per cent, HDFC Bank up by 0.95 per cent and ICICI Bank up by 0.88 per cent. However, the stocks trading with a negative bias were UPL, HCL Tech, Tech Mahindra and Nestle India.
Equity benchmark indices were flat during early hours on Tuesday tracking Asian peers which witnessed downside in early deals. At 10:15 am, the BSE SandP Sensex was up by 40 points or 0.1 per cent at 40,634 while the Nifty 50 gained by 23 points or 0.2 per cent at 11,954. Sectoral indices at the National Stock Exchange were mixed with thin margins with Nifty private bank down by 0.7 per cent and PSU bank by 0.6 per cent. But Nifty FMCG and IT rose by 0.5 per cent each. Among stocks, the early gainers were Dr Reddy's, Asian Paints, Eicher Motos, Kotak Mahindra Bank and Bharti Airtel.However, ICICI Bank fell by 2.3 per cent to Rs 394.75 per share while IndusInd Bank, Axis Bank and State Bank of India traded lower with thin margins.Meanwhile, Asian shares slipped despite a firmer Wall Street lead with a buoyant tech sector and fresh optimism about US stimulus expected to continue to support sentiment.
What prompted Azim Premji, one of the richest Indians, to give away 92% of his wealth over the past two decades to a foundation meant for philanthropic work? We speak to the authors of his recent (unauthorized) biography, Sundeep Khanna and Varun Sood, to understand the businessman. The two former Mint journalists bring their rich experience as business journalists to bear in their book, Azim Premji: The Man Beyond the Billions, as they speak to several associates, employees and friends of the Bengaluru-based billionaire about his company, Wipro, the IT sector and philanthropy.
Credit: HT Digital Content Duration: 25:36Published
Equity benchmark indices tumbled over half per cent during early hours on October 14 tracking Asian peers as halted COVID-19 vaccine trials soured investor risk appetite. Besides, the International Monetary Fund (IMF) revised its projection of contraction in India's GDP for current fiscal year to 10.3 per cent from 4.5 per cent earlier, citing a rise in COVID-19 cases. At 10:15 am, the BSE SandP Sensex was down by 232 points or 0.6 per cent at 40,393 while the Nifty 50 lost by 88 points or 0.73 per cent at 11,847. All sectoral indices at the National Stock Exchange were in the red zone with Nifty private bank down by 1 per cent, PSU bank by 0.7 per cent, IT by 1.1 per cent and metal by 0.9 per cent. Among stocks, Wipro slipped by 6.5 per cent to Rs 351.45 per share despite improving its performance in the second quarter of FY21 on several parameters.
SBI chairman Dinesh Kumar Khara spoke on the situation in the real estate sector post the lockdown at the 18th edition of the Hindustan Times Leadership Summit 2020. He said that there is significant demand across the country in the affordable housing and added that there is a lot of capacity in the real estate sector. ‘May be in deluxe ones the demand may not be as strong, but in affordable housing there is a lot of promise going forward,’ Khara added. Watch the full video for all the details.
Credit: HT Digital Content Duration: 03:53Published
SBI chairman Dinesh Kumar Khara spoke on the Yes Bank and the more recent Lakshmi Vilas Bank crisis at the 18th edition of the Hindustan Times Leadership Summit. Khara said that the system is maturing and the lessons are being looked into by the regulator and the managements as well. He said that such steps should ensure that similar situations do not arise in the future. Khara also spoke on the health of the banking system and the state of non-performing assets and the impact of regulations like the insolvency law. Watch the full video for all the details.
Credit: HT Digital Content Duration: 03:55Published
SBI chairman Dinesh Kumar Khara spoke on the RBI Internal Working Group’s recommendation to allow Indian corporate houses into banking at the 18th edition of the Hindustan Times Leadership Summit. Khara said that a lot of it depends on corporate governance, related party transactions and exposure limits. ‘As long as these things are imposed either through regulations or oversight mechanisms, the banking system should not have much of an issue,’ Khara said. The SBI chairman also said that a very important aspect is the implementation of laws by the management as well. Watch the full video for all the details.
Credit: HT Digital Content Duration: 03:13Published
Equity benchmark indices were volatile with a slight positive bias during early hours on Friday after the Reserve Bank of India's (RBI's) Monetary Policy Committee kept repo rate unchanged at 4 per cent and continue with accommodative stance. At 10:25 am, the BSE SandP Sensex was up by 113 points or 0.28 per cent at 40,296 while the Nifty 50 gained by 31 points or 0.26 per cent at 11,865. Except for Nifty FMCG, IT and realty, all sectoral indices at the National Stock Exchange were in the green with thin margins. Among stocks, Larsen and Toubro rose by 2.15 per cent to Rs 900 per share. Tata Steel moved up by 1.8 per cent, Cipla by 1 per cent and HCL Technologies by 0.9 per cent.Private lenders HDFC Bank and ICICI Bank ticked up by 0.9 per cent and 0.8 per cent respectively. However, those which lost were Hindustan Lever, Nestle India, Bajaj Auto, Tech Mahindra and Tata Consultancy Services.
The management of Axis Bank felicitated ASI Seema Dhaka on her stupendous achievement of tracing and reuniting 76 missing or lost children with their families, which earned her Out of Turn Promotion. Sanjay Singh, Special CP, law and order, graced the occasion with his presence and thanked Axis Bank for this gesture. On this occasion, Tanu Malhotra, Sr Vice President, Rajeev Chawla, Vice President and other senior officials of Axis Bank presented a memento and shawl to Seema Dhaka as a token of appreciation. They also wished her success in future endeavours.
Equity benchmark indices opened flat on Friday with Sensex up by 7.09 points and Nifty up by 6.45 points. The market had a sloppy opening today amid renewed doubts about a highly-anticipated coronavirus vaccine and concerns surrounding the economic impact of the COVID-19 pandemic. At 9:18 am, the 30-scrip BSE Sensex was up by 7.09 points or 0.02 per cent at 44,325.03.Similarly, 50-scrip NSE Nifty was trading at 12,993.45, at 9:18 am, up by 6.45 points or 0.05 per cent.
Equity benchmark indices opened in the green on November 26 (Thursday) with Sensex up by 148.33 points and Nifty up by 40.80 points. At 9:17 am, the 30-scrip BSE Sensex was up by 148.33 points or 0.34 per cent at 43,967.59. Similarly, 50-scrip NSE Nifty was trading at 12,899.20, at 9:17 am, up by 40.80 points or 0.32 per cent.
Equity benchmark indices opened in the green on Wednesday with Sensex up by 277.40 points and Nifty up by 84.85 points. The domestic stock markets opened on a positive note today, building on the record closing highs registered in the previous session. At 9:16 am, the 30-scrip BSE Sensex was up by 277.40 points or 0.62 per cent at 44,749.73. Similarly, 50-scrip NSE Nifty was trading at 13,140.00, at 9:16 am, up by 84.85 points or 0.65 per cent.