Market Wrap: Sensex, Nifty close lower for seventh session as RBI keeps policy unchanged
BSE Sensex closed lower by 113.23 points while the Nifty 50 fell 21.55 points to close at 10,476.70. Here are the latest updates from the markets
Last Modified: Wed, Feb 07 2018. 05 21 PM IST
- 3.35 pm ISTClosing bell
- 2.50 pm ISTRupee, bond prices gain as RBI maintains rates
- 2.47 pm ISTCipla Q3 profit rises about 7% to Rs401 crore
- 2.45 pm ISTEuropean shares rebound
- 2.34 pm ISTRBI keeps key policy rate unchanged at 6%
- 2.30 pm ISTMarket update
- 1.30 pm ISTMarket update
- 1.27 pm ISTIPCA Laboratories shares jump as profit more than doubles
- 1.20 pm ISTVedanta shares decline
- 12.15 pm ISTMarket update
- 12.12 pm ISTCity Union Bank profit rises in Q3
- 11.02 am ISTMarket update
- 10.58 am ISTTata Motors shares gain on January sales data
- 10.55 am ISTMcNally Bharat Engineering shares gain 5%
- 10.53 am ISTHindustan Unilever shares fall
- 10.23 am ISTMarket update
- 10.20 am ISTEicher Motors shares rise ahead of earnings
- 10.17 am ISTCadila Healthcare shares fall on report of USFDA inspection
- 10.15 am ISTKEC International shares jump 5% on receipt of new order
- 9.42 am ISTHero MotoCorp shares rise on Q3 profit
- 9.40 am ISTLupin shares down 2% as profit declines in Q3
- 9.37 am ISTBajaj Electricals shares gain on new order
- 9.35 am ISTRBI monetary policy today: What to watch out for
- 9.33 am ISTRupee strengthens against US dollar ahead of RBI policy
- 9.30 am ISTMarket update
- Mumbai: Benchmarks indices closed lower for a seven straight session on Wednesday, with BSE Sensex closing 113 points down and NSE Nifty settling 21 points down as RBI kept monetary policy unchanged. Meanwhile, Midcap and Smallcap indices outperformed the Sensex by rising 0.43% and 1.95%, respectively. Among the sectoral indices on BSE, oil and gas, realty, energy and healthcare led the gains, while telecom, IT and teck declined. The Reserve Bank of India (RBI) on Wednesday kept interest rates unchanged but hinted that monetary conditions are likely to remain tight because of rising risks to inflation. Here are the latest updates from the markets:
- 3.35 pm IST Closing bellBSE Sensex closed lower by 113.23 points, or 0.33%, to 34,082.71, while the Nifty 50 fell 21.55 points, or 0.21%, to close at 10,476.70. Midcap was up 0.43%, while Smallcap gained 1.95%.
- 2.50 pm IST Rupee, bond prices gain as RBI maintains ratesThe Indian rupee and bond prices advanced after Reserve Bank of India kept its interest rates unchanged and monetary policy stance unchanged to neutral. The rupee was trading at 64.14, up 0.16% from its previous close of 64.25. It opened at 64.11 a dollar and touched a high and a low of 64.04 and 64.19, respectively. The 10-year bond yield was at 7.552% from its Monday’s close of 7.568%.
- 2.47 pm IST Cipla Q3 profit rises about 7% to Rs401 croreCipla Ltd posted an about 7% rise in third-quarter net profit on Wednesday, but missed analysts’ estimates. Net profit rose to Rs401 crore ($62.54 million) in the quarter ended 31 December, from Rs375 crore a year earlier, the company said. Analysts on average had expected a profit of 4.44 billion rupees, Thomson Reuters data showed. (Reuters)
- 2.45 pm IST European shares reboundEuropean stock markets rebounded at the start of trading following heavy losses the previous session. London’s FTSE 100 gained 1.0% to 7,209.47 points. Frankfurt’s DAX 30 index climbed 0.6% to 12,466.1 points and the Paris CAC 40 rose 0.4% to 5,184.08 points. Analysts pointed to a late US recovery on Tuesday as helping European stocks to recover at the open. (AFP)
- 2.34 pm IST RBI keeps key policy rate unchanged at 6%The Reserve Bank of India has kept interest rates unchanged. Fourteen of the 15 economists surveyed by Mint expect RBI to keep the repo rate—the rate at which the central bank lends to banks—unchanged at 6%. One economist expects a 25 basis point hike.
- 9.42 am IST Hero MotoCorp shares rise on Q3 profitHero MotoCorp Ltd shares gained 2% to Rs3,608.85 after the company reported a profit of Rs805.43 crore for the quarter ended in December, up 4.3% from Rs772.05 crore in the year-earlier period.
- 9.40 am IST Lupin shares down 2% as profit declines in Q3Lupin Ltd shares fell 2% to Rs786.25 after it reported a 65% drop in its December quarter net profit to Rs221.70 crore against Rs426 crore a year ago.
- 9.35 am IST RBI monetary policy today: What to watch out for While RBI is likely to keep the policy rates unchanged, it is expected to highlight the risks to its policy trajectory from rising inflation and higher fiscal slippage.
RBI monetary policy today: What to watch out for https://t.co/OMt3vTnnGH— Livemint (@livemint) February 7, 2018
- 9.33 am IST Rupee strengthens against US dollar ahead of RBI policyThe Indian rupee strengthened against the US dollar. Gains in the global equity and currencies market also supported the home currency. The rupee was trading at 64.06, up 0.29% from its previous close of 64.25. It opened at 64.11 a dollar. India’s 10-year bond yield was at 7.565% from its Monday’s close of 7.568%. Bond yields and prices move in opposite directions.