Sensex Today: Stock Market Crash Live Updates: Sensex, Nifty tumble over 2% each on RBI’s
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We do not expect rupee to appreciate much due to this rate hike and expect it to remain in a range of 76-76.70 in the next 1 month. Have to watch what US Fed says tonight.
– Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors
Market View: Ajit Kabi, Banking Analyst at LKP Securities
The rate hike is likely to shrink liquidity in the economy overall. As per as the banks are concerned the cost of funds is likely to increase so does the cost of deposits. It may translate into NIMs pressure. However, a quick increase in MCLR may control the NIMs squeeze.
The MPC’s decision, in an unscheduled meeting, to raise the repo rate by 40bp and CRR by 50 bp is a surprise since it came on the LIC IPO opening date. MPC’s proactive move is justified from the perspective of inflation management, but the timing leaves a lot to be desired. The above 1000 point crash in Sensex has soured the sentiments on the opening day of India’s largest IPO. The 10-year bond yield has spiked to above 7.39% indicating an imminent rise in the cost of funds.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Market trend: Advance-decline ratio at nearly 1:3
Market LIVE updates: Nifty slips below 16,700
Sensex selloff gathers pace, index down nearly 1300 points
Check out the top losers from NBFC space
Price as on 04 May, 2022 02:43 PM, Click on company names for their live prices.
Sensex today LIVE: Top drags on the index at this hour
RBI will ensure adequate liquidity in the system
– RBI Governor
RBI increases Cash Reserve Ratio by 50 bps
RBI policy move impact on bond market
#MarketsWithETNOW | #India 10-year yield – Spikes over 2.5 bps – Biggest single day rise since Feb 2017 – Hit… https://t.co/bwI4yKL42A
— ET NOW (@ETNOWlive) 1651653947000
Today’s decision should be seen as continuation of announcement of intention to withdraw accommodative stance
– Shaktikanta Das, RBI Governor
MPC wanted to contain second round of inflation, says Das
Normalisation of policies in global economy will impact India, Das added
RBI speech impact: Nifty in bear grip, tumbles below 16,800
RBI Governor says
- Private consumption regaining traction
- Normal monsoon should support rural consumption
- Signs of incipient revival in India investment cycle
- India export growth has remained buoyant
- India eco faces headwinds from global spillovers
Shortages, volatility in commodities and financial markets are becoming more acute
– Shaktikanta Das, RBI Governor
RBI Governor says stance still remains accommodative
Sensex sees sharp fall, down 900 points as RBI MPC to raise repo rate by 40 bps
MPC held off cycle meeting May 2-4; MPC voted to hike the repo rate by 40 basis points
– RBI Governor
Risk of inflation remaining elevated for too long: Shaktikanta Das, RBI
- Have preserved macro-financial stability despite commodity price shocks
- Necessary to now be sensitive to new realities and incorporate them
- April CPI expected to be elevated
Indian economy has shown resilience amid huge challenges
– Shaktikanta Das, RBI Governor
Inflationary pressures becoming more acute every day, says Shaktikanta Das, RBI Governor
RBI Governor’s address begins
Sensex Today LIVE: Mild uptick in Sensex
Q4 EARNINGS: ADANI GREEN
#EarningsWithETNOW | Adani Green Q4 – PAT at Rs 121 cr vs Rs 104 cr YoY – Revenue from ops at Rs 1128 cr vs Rs 690… https://t.co/e0wfKEN5G4
— ET NOW (@ETNOWlive) 1651652824000
BSE CONSUMER DURABLES index tanks over 2.5%
Top 5 losers from banking sector in afternoon session
Price as on 04 May, 2022 01:42 PM, Click on company names for their live prices.
Q4 EARNINGS: KOTAK BANK PAT RISES 65% YOY
Kotak Mahindra Bank on Wednesday reported a 65 per cent year-on-year (YoY) rise in standalone net profit at Rs 2,767 crore in the March quarter compared with Rs 1,682 crore in the corresponding quarter last year. Net Interest Income (NII) for the quarter rose 18 per cent YoY to Rs 4,521 crore from Rs 3,843 crore in the same quarter last year. Net Interest Margin (NIM) for the quarter came in at 4.78 per cent.
Market LIVE updates: BSE Midcap index tumbles over 1%, in line with benchmark Sensex
The government bond market witnessed a sharp selloff on Wednesday ahead of a statement by Reserve Bank of India Governor Shaktikanta Das at 2 pm. The yield on the 10-year benchmark government bond shot up as much as nine basis points to 7.22 per cent as traders feared the central bank governor would announce a rate action. Bond prices and yields move inversely. “The unexpected announcement has caught markets by surprise and the knee-jerk reaction is to fear a rate action,” a senior treasury official at a large foreign bank said on condition of anonymity.
India VIX surges over 8% to 21.91 level
Sensex LIVE updates: Only 6 index stocks in the green as Sensex tumbles 650 pts
Market LIVE Updates: Nifty slips to near 16,900 level
Dixon Tech, Varroc Engg, Future Retail among top losers on NSE in late morning trade
Price as on 04 May, 2022 11:56 AM, Click on company names for their live prices.
JUST IN: RBI Governor Shaktikanta Das to speak at 2 pm today
Stock Alert: Meleveetil Damodaran steps down from IndiGo board
“Meleveetil Damodaran has stepped down from the Boord of Directors of the Company (“Board”) as the Chairman and Independent Non-Executive Director, on attaining the age of 75 years on May 3, 2022. We further wish to inform you that the Board has approved the appointment of Dr. Venkataramani Sumantran, Independent Non-Executive Director, as the Chairman of the Board with effect from May 4, 2022,” IndiGo said in a BSE filing.
Shares of Adani Wilmar shed 4.9 per cent in early trade Wednesday after reporting a disappointing set of numbers for the fourth quarter of the previous financial year. The edible oil major reported a 26 per cent decline in consolidated net profit at Rs 234.29 crore for the quarter ended March on higher tax expenses. The company had posted a net profit of Rs 315 crore in the year-ago period. The company, which made its debut on Dalal Street in February, said it had seen a one-time gain in form of income tax reversal in the base quarter as the company shifted to reduced corporate tax of 25 per cent.
Market LIVE Updates: 10 lakh shares of SBI Card change hands in bunched trade
Torrent Power board to consider raising Rs 2,000 crore in May 10 meet
Price as on 04 May, 2022 10:53 AM, Click on company names for their live prices.
Stock Alert: YES Bank hikes MCLR across tenures by 10-15 bps: Agencies
Price as on 04 May, 2022 10:46 AM, Click on company names for their live prices.
Sensex Today LIVE: Index extends decline, down over 200 points
- HDFC Bank, RIL, HUL & Asain Paints among top Sensex drags in morning session
Alembic Pharma’s wholly owned subsidiary, Aleor Dermaceuticals Limited, has received US Food and Drug Administration (US FDA) Final Approval for Docosanol Cream, 10% (OTC).
Price as on 04 May, 2022 10:29 AM, Click on company names for their live prices.
Majority of brokerages are bullish on India’s biggest ever initial public offering and have suggested subscribing to the issue. However, a few of them have raised concerns over declining markets and future stake sales by the government. Ahead of its IPO, unlisted shares of LIC were commanding a premium of Rs 50-55 in the grey market, hinting towards a mild listing pop for investors. However, the premium in the grey market has dropped from Rs 85-90 earlier.
The Fed decision expected late tonight will be crucial in determining the trend of the markets globally. Markets already know and has discounted 50 bp rate hike and $ 95 billion worth balance sheet reduction. Therefore, market trend after the Fed announcement will be influenced by the Fed’s guidance on inflation, future rate hikes and further balance sheet reduction. There is a clear trend of growth momentum in the Indian economy and surging exports (up 24% in April) is aiding this momentum. Q4 results of banks indicate impressive credit growth and improving asset quality. So, if the market trend turns positive after the Fed decision, banks are likely to lead the uptrend.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Price as on 04 May, 2022 09:55 AM, Click on company names for their live prices.
EARNINGS IMPACT: ALEMBIC PHARMA
Shares of Alembic Pharma declined the most in 9 months
Vodafone Idea, YES Bank among most active stocks on NSE
Price as on 04 May, 2022 09:26 AM, Click on company names for their live prices.
Sector Watch: Metal & pharma indices only sectors in the red
Sensex Heatmap: Top index gainers & losers in opening deals
OPENING BELL: Sensex rises 150 points, Nifty tops 17,100; JSW Energy jumps 4%; Ruchi Soya 2%
Pre-open session: Sensex gains 150 points; Nifty50 nears 17,100
Q4 results today
Adani Green, Kotak Mahindra Bank, Adani Total Gas, Havells India, Tata Consumer Products, ABB, EIH, Deepak Nitrite, Equitas SFB and Oracle Financial Services are among companies which will announce their March quarter results today.
Rs 20,557 crore LIC IPO to open today
The Initial Public Offering (IPO) of LIC opens for retail and institutional investors on Wednesday and will close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will also get a discount of Rs 45 per equity share and policyholders will get a discount of Rs 60 per share.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 102.50 points, or 0.60 per cent, higher at 17,087, signaling that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty50 bulls fight back; broader range stays intact
Nifty50 on Monday saw a gap-down but recouped most losses by the end, forming a bullish candle on the daily chart. While the momentum turned positive, the broader range of 17,300-16,800 stayed intact and analysts believe only a break of this range on either side would lead to a decisive move. Nifty50 is currently placed at the valuation support and also at the 200-day EMA around 16,900 level. A reasonable buying had emerged from this support and the market has witnessed minor upside bounce for 1-2 sessions at this level.
Hong Kong stocks dip at open
Hong Kong shares kicked off Wednesday with a small loss following a mildly positive lead from Wall Street ahead of an expected Federal Reserve rate hike decision later in the day.The Hang Seng Index eased 0.36 percent, or 76.19 points to 21,025.70.
Key Asian markets closed for holidays
Financial markets in China, Indonesia, Japan, Malaysia and Thailand are closed on Wednesday for public holidays.
Stocks edge higher on Wall Street ahead of Fed rate decision
US stocks eked out modest gains after a choppy day of trading Tuesday as Wall Street waits to find out how aggressively the Federal Reserve will raise interest rates at its latest policy meeting on Wednesday. The S&P500 ended 0.5% higher after briefly slipping into the red earlier in the day. The Dow Jones Industrial Average rose 0.5% and the Nasdaq inched up 0.2%. Banks and other financial stocks helped lift the market.
Rupee closes flat at 76.48 against dollar amid forex outflows
The rupee pared initial gains to settle almost flat at 76.48 against the US dollar on Monday as subdued domestic equities offset the impact of a sharp decline in global crude oil prices. A strengthening American currency overseas and continuous foreign fund outflows also weighed on the domestic unit, forex traders said.