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PremiumMUMBAI :Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty closed higher by nearly 2% on Thursday after the Reserve Bank of India (RBI) kept interest rates unchanged and cut its inflation forecast, citing lower food prices. RBI’s monetary policy committee (MPC) has decided to keep repo rate—the rate at which the central bank infuses liquidity in the banking system—at 6%. Moreover, Moreover, global equities also gained as investors hoped a full-blown trade war between Us and China can be averted. Here are the latest updates from the markets:
BSE Sensex closed higher by 577.73 points, or 1.75%, to 33,596.80, while the Nifty 50 gained 196.75 points, or 1.94%, to close at 10,325.15. All the sectoral indices ended higher led by metal, which was up 4.14%, followed by basic materials 3.18%, bankex 2.78%, realty 2.55% and finance 2.39%. BSE MidCap and SmallCap rose 1.88% and 1.87%, respectively. On NSE, Nifty PSU Bank gained 4.92%.
BSE Sensex traded higher by 542.44 points, or 1.64%, to 33,561.51, while the Nifty 50 gained 176.15 points, or 1.74%, to 10,304.55.
The Reserve Bank of India (RBI) has kept interest rates unchanged, while maintaining a neutral monetary policy stance in the first monetary policy review of the current fiscal year on Thursday, amid a gradual recovery in growth and easing inflation.RBI’s monetary policy committee (MPC) has decided to keep repo rate—the rate at which the central bank infuses liquidity in the banking system—at 6% with a vote of 5-1. Michael Debabrata Patra voted for an increase in the policy rate of 25 basis points.The central bank projected consumer price index (CPI)-based inflation to be in the range of 5.1-5.6% in the first half of the fiscal year 2018-19, and 4.5-4.6% in the second half of the year, according to the press release. The CPI in February slowed to 4.4%, below RBI’s March projection of 5.1%.
BSE Sensex traded higher by 474.26 points, or 1.44%, to 33,480.16, while the Nifty 50 gained 157.45 points, or 1.55%, to 10,285.85.
Dilip Buildcon Ltd said it is entitled to a maximum bonus of Rs19.62 crore in lieu of early completion of the Hirekerur-Ranibennur project in Karnataka. Shares gained 3.77% to Rs1159.
BSE Sensex traded higher by 461.09 points, or 1.40%, to 33,480.16, while the Nifty 50 gained 149.30 points, or 1.47%, to 10,277.70. All the sectoral indices on BSE continued to trade higher led by metal (3.63%), basic materials (2.70%), realty (2.52%), industrials (2.08%) and capital goods (2%). BSE MidCap and SmallCap gained 1.50% and 1.67%, respectively.
Europe’s major stock markets rallied in opening deals, after a bounce on Wall Street and across most of Asia, as trade war fears eased. In initial deals, London’s benchmark FTSE 100 index jumped 1.4% to 7,134.47 points. In the eurozone, Frankfurt’s DAX 30 won a hefty 1.6% to 12,153.61 points, while the Paris CAC 40 leapt almost 1.5% to 5,216.68. (AFP)
Den Networks Ltd shares gained 1.45% to Rs105 after the company said it has expanded its broadband services to 100 cities across India
Larsen and Toubro Ltd said its unit L&T Hydrocarbon Engineering received three gas production deck modules by Saudi Aramco. Shares rise 2.68% to Rs1331.10.
BSE Sensex traded higher by 442.56 points, or 1.34%, to 33,461.63, while the Nifty 50 gained 144.15 points, or 1.42%, to 10,272.55.
Gas producers such as Oil and Natural Gas Corp., and Oil India will gain, but the gains will hardly move the needle for both the stocks.
Gas producers such as Oil and Natural Gas Corp., and Oil India will gain, but the gains will hardly move the needle for both the stockshttps://t.co/DiHWuXl13b
— Livemint (@livemint) April 5, 2018
Crystal Crop Protection Ltd has filed papers for its initial public offering to raise Rs1,000 crore. The IPO comprises fresh issue of up to Rs545 crore and offer for sale of up to Rs455 crore. ICICI Securities, Axis Capital, HSBC Securities, Capital Markets (India) are among the book running lead managers to IPO. (Reuters)
Varun Beverages Ltd said it plans to set-up a greenfield production facility to create in-house production capacity for Tropicana fruit juices, Quaker Oats Milk based Beverages and Gatorade. The company’s shares were trading 0.88% up at Rs642.50
Ashoka Buildcon Ltd shares rose 1.08% to Rs262.70 after the company said it has emerged as the lowest bidder for projects worth Rs759.84 crore from Dakshinanchal Vidyut Vitaran Nigam Ltd. under Saubhagya Yojana.
BSE Sensex surged 475.05 points, or 1.44%, to 33,494.12, while the Nifty 50 jumped 151.50 points, or 1.50%, to 10,279.90. All the sectoral indices on BSE traded higher led by metal, which was up 4.03%, basic industries 2.87%, realty 2.49% and industrials 2.10%. On NSE, Nifty PSU Bank index rose 2.20%. BSE MidCap and SmallCap gained 1.71% and 1.77%, respectively.
Hindustan Oil Exploration Co. Ltd shares gained 2.42% to Rs118.40 after the company said its board of directors approved the acquisition of the entire share capital of Panama-based Geopetrol International Inc. from Geofinance Petroleum SA
Larsen and Toubro Ltd said its construction unit has won orders worth Rs3,376 crore. L&T shares gained 2.05% to Rs1322.95.
63 Moons Technologies Ltd shares fell 3.7% to Rs97.25 after CNBC reported that EOW has freezed operational accounts of the company. EOW also written to competent authority to transfer revenue from ODIN software into escrow account
Smartlink Network Systems Ltd shares rose 14% to Rs103 after the company said its board to meet on 7 April to consider buy back.
The monetary policy committee of the Reserve Bank of India decides on repo rate today, amid falling inflation, softening bond yields and a government borrowing programme that kicks off on Friday. Mint takes a look at the background of the MPC meeting and the likely impact of changes in interest rates.
A look at the background of RBI's monetary policy committee meeting and the likely impact of change in repo ratehttps://t.co/AFpVgDnri3
— Livemint (@livemint) April 5, 2018
The Indian rupee was trading higher in the morning hours against US dollar ahead of the Reserve Bank of India’s (RBI) monetary policy decision due after 2.30pm on Thursday. The rupee opened at 65.03 a dollar. At 9.15am, the home currency was trading at 65.02 a dollar, up 0.19% from its Wednesday’s close of 65.15. The 10-year bond yield was at 7.3% compared to its previous close of 7.294%. Bond yields and prices move in opposite directions.
BSE Sensex surged 392.86 points, or 1.19%, to 33,411.93, while the Nifty 50 jumped 123.75 points, or 1.22%, to 10,252.15.
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