Share Market HIGHLIGHTS: Nifty 50 almost makes it to 17,600, Sensex rises 144 pts as RBI's surprise status quo helps D-Street extend gains to 5th day
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended gains to the fifth session in a row on Thursday, April 6, as the RBI's decision to hold the key lending rate at the exiting 6.5 per cent surprised Dalal Street. RBI Governor Shaktikanta Das maintained the policy stance at ' withdrawal of accommodation' but warned of more hikes to tame inflation, as he reiterated the MPC's commitment to tame red-hot inflation.
A majority of interest-rate sensitive stocks rose after the RBI's surprise status quo on key rates, with the Nifty Realty — whose 10 constituents include some of the top property developers in the country such as DLF, Godrej Properties and Lodha — rising 2.8 per cent for the day.
The Nifty Bank — whose 12 member stocks include SBI, HDFC Bank and ICICI Bank — finished the day with a gain of 41.9 points or 0.1 per cent at 41,041, having gyrated in a range of more than 450 points around the flatline in intraday trade.
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Catch HIGHLIGHTS of all the action in the Indian share market on April 6, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended gains to the fifth session in a row on Thursday, April 6, as the RBI's decision to hold the key lending rate at the exiting 6.5 per cent surprised Dalal Street. RBI Governor Shaktikanta Das maintained the policy stance at ' withdrawal of accommodation' but warned of more hikes to tame inflation, as he reiterated the MPC's commitment to tame red-hot inflation.
A majority of interest-rate sensitive stocks rose after the RBI's surprise status quo on key rates, with the Nifty Realty — whose 10 constituents include some of the top property developers in the country such as DLF, Godrej Properties and Lodha — rising 2.8 per cent for the day.
The Nifty Bank — whose 12 member stocks include SBI, HDFC Bank and ICICI Bank — finished the day with a gain of 41.9 points or 0.1 per cent at 41,041, having gyrated in a range of more than 450 points around the flatline in intraday trade.
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Catch HIGHLIGHTS of all the action in the Indian share market on April 6, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market LIVE | Market breadth favours the bulls in a big way, advance-decline ratio at 2:1
As many as 2,349 stocks are up and 1,137 down on BSE less than 15 minutes from the closing bell.
Nifty LIVE | Reliance, HDFC twins, Bajaj Finance, Tata Motors top movers
As many as 29 stocks are in green territory. Here's a look at the heatmap in the 50-scrip universe:
Share Market Update | Nifty 50, Sensex extend gains to 5th straight day after RBI's surprise status quo on key rates
Both headline indices finish the day with gains of 0.2 per cent, after the RBI's decision to keep the key lending rate and its policy stance on hold after three-day-long, bi-monthly deliberations sent positive signals to Dalal Street.
The Nifty50 settles with a gain of 42.1 points at 17,599.2, after broadly gyrating in the 17,500-17,650 band during the session.
The Sensex finishes the day 143.7 points higher at 59,833, having recovered more than 300 points from the weakest level of the day.
Here's how the gauges moved through the day:
Nifty 50
Image: NSE
Sensex
Image: BSE
This marks the first pause in the repo rate — the key lending rate at which it lends money to commercial banks — since May 2022, when the central bank announced the first hike in the post-COVID era.
Nifty LIVE | Headline index holds on to 17,600 as market enters final 30 minutes of holiday-truncated week
The Nifty is up 48.2 points or 0.3 per cent at 17,605.3.
The banking index is also managing to float above the flatline, up 56.6 points or 0.1 per cent at 41,055.7.
Indian financial markets were shut on Tuesday for Mahavir Jayanti, and will remain closed on April 7 for Good Friday.
MUTHOOT FINANCE ANNOUNCES 220% DIVIDEND
Image: BSE
Share Market Tips LIVE | Buy AB Capital futures, says Himanshu Gupta
Himanshu Gupta of Globe Capital Markets recommends buying the Rs 160 call of AB Capital futures at Rs 3.5 for a target of Rs 6 with a stop loss at Rs 2.
Share Market Tips LIVE | Buy Nifty Bank 17,600 call option at Rs 100-110
Himanshu Gupta of Globe Capital Markets recommends buying the 17,600 weekly (April 13) call option of Nifty Bank on dips to Rs 100-110-odd levels for targets of Rs 160 and Rs 190 with a stop loss at Rs 85.
He is referring to chasing the call, currently in the money, on an at-the-money basis.
Share Market Today LIVE | Vedanta shares continue to hold gains as stock goes ex-dividend
Vedanta shares are holding on to the green, quoting higher by Rs 3.9 or 1.5 per cent at Rs 269.7 apiece on BSE at this hour, trading ex-dividend.
Earlier in the day, the Vedanta stock gained as much as 2.5 per cent to Rs 272.5 apiece.
Late last month, the billionaire Anil Agarwal-led mining giant announced a 2,050 per cent dividend for its shareholders.
Read more on Vedanta's mega dividend payout
RBI Policy | All members voted unanimously to keep repo rate at existing level
All members of the MPC voted in favour of the status quo, announced earlier in the day:
- Shashanka Bhide
- Ashima Goyal
- Jayanth R Varma
- Rajiv Ranjan
- Michael Debabrata Patra
- Shaktikanta Das
Catch latest updates on the first RBI policy review of the new financial year
Ajay Bagga says RBI being over-optimistic with inflation, GDP projections
Market veteran Ajay Bagga tells Zee Business that the RBI's latest projections on consumer inflation and GDP growth in the country are "over-optimistic".
RBI estimates consumer inflation at 5.2 per cent and GDP growth at 6.5 per cent in the current financial year. Check out RBI's latest quarterly projections
Nifty Bank aids overall market sentiment, holds 41,200
The banking index — whose 12 constituents include SBI, HDFC Bank and ICICI Bank among the country's largest lenders — is up 225.7 points or 0.6 per cent at 41,224.9, inches within its highest level of the day at 41,231.4.
Share Market Today LIVE | Most of consumer durable stocks in the green; Havells, Crompton, Bluestar down 1%
| Stock | CMP | Change (%) |
| KAJARIACER | 1,066.6 | 1 |
| ORIENTELEC | 248.5 | 1 |
| AMBER | 1,862 | 0.8 |
| WHIRLPOOL | 1,332 | 0.5 |
| RELAXO | 842 | 0.4 |
| VOLTAS | 820.4 | 0.3 |
| VGUARD | 253.3 | 0.3 |
| BATAINDIA | 1,432.8 | 0.2 |
| RAJESHEXPO | 622.5 | -0.2 |
| TTKPRESTIG | 728.4 | -0.3 |
| TITAN | 2,560.5 | -0.5 |
| DIXON | 2,911.4 | -0.6 |
| BLUESTARCO | 1,422.3 | -0.8 |
| CROMPTON | 297 | -1 |
| HAVELLS | 1,187 | -1.2 |
Catch latest updates on the first RBI policy review of the new financial year
Nifty Realty holds on firmly to the green, up almost 1%; DLF, Godrej Properties, Oberoi Realty top movers
| Stock | CMP | Change (%) |
| GODREJPROP | 1,087.9 | 3 |
| OBEROIRLTY | 883 | 2.4 |
| DLF | 374.9 | 2.1 |
| IBREALEST | 54.9 | 1.6 |
| SOBHA | 447.2 | 1.2 |
| PHOENIXLTD | 1,306.3 | 0.8 |
| PRESTIGE | 417 | 0.6 |
| BRIGADE | 471.2 | 0.5 |
| MAHLIFE | 361.1 | 0.5 |
| LODHA | 905.4 | 0.3 |
The real estate index is up 0.9 per cent about 40 minutes into the RBI's surprise rate action, having fully recovered weakness ahead of the event. The gauge had slipped as much as 0.4 per cent below the flatline within the first hour of trade today.
Ashok Leyland, Eicher, Bajaj Auto, Mahindra & Mahindra, Tata Motors in the green after RBI announcements; Hero MotoCorp, Maruti Suzuki inch lower
Auto
| Stock | CMP | Change (%) |
| ASHOKLEY | 136.6 | 1.4 |
| EICHERMOT | 2,958 | 0.8 |
| BAJAJ-AUTO | 4,037 | 0.3 |
| M&M | 1,158.5 | 0.3 |
| SONACOMS | 422.6 | 0.2 |
| TATAMOTORS | 427.3 | 0.2 |
| BHARATFORG | 758.6 | 0 |
| BALKRISIND | 1,958.4 | -0.1 |
| MRF | 83,800 | -0.2 |
| HEROMOTOCO | 2,426 | -0.3 |
| MARUTI | 8,425.4 | -0.3 |
| MOTHERSON | 67.4 | -0.3 |
| TVSMOTOR | 1,086.1 | -0.4 |
| TIINDIA | 2,587.2 | -0.4 |
| BOSCHLTD | 19,050 | -0.5 |