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Business News/ Markets / Live Blog/  Indices end with slight gain following RBI rate hike; Cons Durable, Auto slide

Indices end with slight gain following RBI rate hike; Cons Durable, Auto slide

Share Market Close: Benchmark indices ended the day with a marginal gain after RBI hiked the interest rate by 50 basis points to 5.4% and kept the GDP forecast at 7.2%. Ultratech and Bharti Airtel are among the top gainers, but Mahindra and Mahindra shed 2%. 

Stock Market Today: RBI rate decision in focus (iStock)Premium
Stock Market Today: RBI rate decision in focus (iStock)

RBI's hike is the third one since the beginning of the current financial year aimed at taming the inflationary pressure. Asian markets ended in green but the European markets started slight low as they keep an eye on the US jobs report to assess the health of its economy.

05 Aug 2022, 09:09:27 AM IST

RBI Monetary Policy: Governor Shaktikanta Das to announce MPC decision at 10 am. Check live updates in this link

The Reserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary Policy Committee (MPC) is likely to hike the policy repo rate for the third time this year on Friday in order to tame the inflationary pressure. Check here for live updates.

05 Aug 2022, 09:05:30 AM IST

Sensex flat at pre-open amidst expectation of a rate hike 

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Sensex Preopen
05 Aug 2022, 08:57:16 AM IST

Cryptocurrency prices today: Bitcoin falls while ether, dogecoin Shiba Inu gain

Cryptocurrencies prices today were mixed with Bitcoin trading below the $23,000 mark. The world's largest and most popular cryptocurrency Bitcoin was trading nearly a per cent lower at $22,971. The global crypto market cap today was above the $1 trillion mark, as it was almost flat in the last 24 hours at $1.12 trillion, as per CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, rose marginally to $1,657. Meanwhile, dogecoin price today was trading more than a per cent higher at $0.06 whereas Shiba Inu gained 0.5% to $0.000012.

05 Aug 2022, 08:44:26 AM IST

Stocks to Watch: Adani Enterprises, JSW Steel, Tata Steel, Axis Bank, HCL

Alkem Laboratories, M&M, Indigo Paints, Paytm, Pfizer, Titan, and UCO Bank will be in focus as they declare their June quarter earnings today. (Full Report)

05 Aug 2022, 08:32:32 AM IST

Sebi orders forensic audit of Future Retail’s financials

The Securities and Exchange Board of India (Sebi) has ordered a forensic audit of the financials of Future Retail, the company told the stock exchange on Thursday.

Future Consumer, a subsidiary, said Sebi has written to Future Retail’s interim resolution professional (IRP) intimating the appointment of Chokshi & Chokshi as the forensic auditors. The chartered accountant firm will look into the consolidated financial statements and account books of the company for the period between March 2020 and March 2022. (Full Report)

05 Aug 2022, 08:25:22 AM IST

Oil prices extend losses on demand worries

Oil prices extended losses on Friday, after hitting their lowest since before Russia's February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand.

Brent crude dropped 10 cents, or 0.1%, to $94.02 a barrel by 0047 GMT, while U.S. West Texas Intermediate crude was at $88.48 a barrel, down 6 cents.

05 Aug 2022, 08:22:50 AM IST

PFC, REC may loan ₹1.45 trillion to help discoms clear dues

State-run Power Finance Corp. Ltd. (PFC) and its subsidiary REC Ltd. are expected to lend around 1.2 trillion to state-run electricity distribution companies (discoms) under the Union government’s ambitious one-time settlement scheme that will kick in from 5 August, said two government officials. (Full Report)

05 Aug 2022, 07:59:29 AM IST

Tokyo stocks rise after US tech gains

Tokyo stocks traded higher Friday following tech gains on Wall Street while more businesses reported that higher raw material prices were weighing on profits.

The benchmark Nikkei 225 index opened flat then rose 0.23%, or 65.06 points, to 27,997.26, while the broader Topix index was up 0.30%, or 5.77 points, at 1,936.50.

05 Aug 2022, 07:58:26 AM IST

Gold rises ₹487; silver gains ₹426

Gold in the national capital on Thursday gained 487 to 52,566 per 10 grams amid a rise in international precious metal prices along with rupee depreciation, according to HDFC Securities.

The yellow metal had closed at 52,079 per 10 grams in the previous trade.

Silver also rose by 426 to 58,806 per kg from 58,380 per kg in the previous trade.

05 Aug 2022, 07:49:11 AM IST

Tiger sells 2.34% stake in Zomato

Tiger Global nearly halved its stake in food delivery company Zomato Ltd, joining investors such as Uber Inc. and Moore Strategic Ventures, who have either exited or pared their stakes after a year-long lock-in for some shareholders ended on 23 July. (Full Report)

05 Aug 2022, 07:43:24 AM IST

Centre mulls slashing steel export duty amid falling prices and rising domestic supply

The Union government may reduce or eliminate the export duty on steel products amid falling prices and rising domestic supply, two people familiar with the matter said, after a similar decline prompted a duty cut on petro products. (Full Report)

05 Aug 2022, 07:29:45 AM IST

Rupee skids 25 paise to 79.40 against US dollar

The rupee depreciated by 25 paise to close at 79.40 against the US dollar on Thursday, posting its second day of losses amid disappointing macroeconomic data and US-China tensions.

Participants also stayed on the sidelines ahead of the RBI's interest rate decision on Friday, forex traders said.

05 Aug 2022, 07:29:01 AM IST

RBI set to hike policy rates for the third time in a row to tame inflation

The Reserve Bank of India is likely to hike the policy repo rate by 25 to 50 basis points on Friday, the third hike since the beginning of the current financial year, in order to tame the inflationary pressure.

While the hike in policy interest rates is almost certain, analysts and economists have different opinions on the extent of the rate hike. It varies between 25 basis points to 50 basis points.

05 Aug 2022, 07:28:11 AM IST

US stocks end mixed amid earnings, economic updates

Stocks gave back some of their recent gains Thursday as a choppy day of trading on Wall Street ended with a mixed finish for the major indexes.

The S&P 500 closed 0.1% lower after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.3%, while the Nasdaq rose 0.4%.

Energy stocks, the biggest gainers in the benchmark S&P 500 so far this year, were the biggest drag on the market as the price of U.S. crude oil fell below $90 per barrel for the first time since early February, before Russia's invasion of Ukraine.

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