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Business News/ Markets / Live Blog/  Sensex ends 1000 pts higher, Nifty reclaims 17,000; Bank, Metal shine
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Sensex ends 1000 pts higher, Nifty reclaims 17,000; Bank, Metal shine

32 min read . Updated: 30 Sep 2022, 03:44 PM IST
Vijay Kishore

Share Market Close: Benchmark indices gained almost 2% in today's trade after the RBI's repo rate hike news. Sensex ended 1000 points higher and Nifty gained 275 points. Hindalco, Airtel, and IndusInd Bank stocks zoomed. RBI today hiked the repo rate by 50 bps to 5.9% with immediate effect.

Stock Market Today: RBI rate hike announcement to remain in focus (MINT)Premium
Stock Market Today: RBI rate hike announcement to remain in focus (MINT)

Asian market did not have a bright day as they tailed the overnight loss of Wall Street. Nikkei registered its biggest monthly drop since March 2020, while Mainland China remained subdued due to underwhelming factor activity. Hong Kong remained flat, however, European stocks are trading in the green.   

30 Sep 2022, 07:44:03 AM IST

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Sept 30

On account of weak global sentiments and slowdown concern, Dalal Street extended its losing spree on seventh straight session on Thursday. NSE Nifty corrected 40 points and closed at 16,818, Sensex shed 188 points and finished at 56,409 while Nifty Bank index went off 112 points and closed at 37,647 levels. Among sectors metals, healthcare and FMCG gained the most while power, IT and banks fell the most. However, mid-cap and small-cap indices gained 0.31 per cent and 0.63 per cent respectively.

Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today and those two stocks are Apollo Hospitals and Godrej Consumer Products.

Here we list out full details below:

1] Apollo Hospitals: Buy at ₹4390, target ₹4530, stop loss ₹4330; and

2] Godrej Consumer Products: Buy at ₹907, target ₹957, stop loss ₹885.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. (Full Story)

30 Sep 2022, 07:31:45 AM IST

Govt revises interest rate on small savings schemes for third quarter

The Central Government on Thursday announced the small savings scheme interest rates for the third (October-December) quarter. This time, the government has raised the interest rate by up to 30 basis points on some small savings schemes for the quarter beginning 1 October.

The interest rate for senior citizens savings scheme has been hiked to 7.6% from 7.4%, for Kisan Vikas Patra to 7% from 6.9% and also increased for two, three-year time deposits. (Full Report)

30 Sep 2022, 07:30:25 AM IST

India's current account deficit widens to 2.8% of GDP in April-June

India's current account deficit (CAD) widened to $23.9 billion or 2.8 per cent of the country's gross domestic product (GDP) in April-June period of the current financial year from $13.4 billion recorded in the previous quarter, as per data released by the Reserve Bank of India (RBI) on Thursday.

India's current account balance recorded a deficit of $23.9 billion (2.8 per cent of GDP) in Q1:2022-23, up from US$ 13.4 billion (1.5 per cent of GDP) in Q4:2021-221 and a surplus of $6.6 billion (0.9 per cent of GDP) a year ago [i.e., Q1:2021-22], the RBI said in a statement.

The RBI on Thursday released the preliminary data on India's balance of payments (BoP) for the first quarter (Q1), i.e., April-June 2022-23. (ANI)

30 Sep 2022, 07:29:54 AM IST

Rupee recovers from record lows to close at 81.73 against dollar ahead of RBI policy

The rupee on Thursday recovered from record lows to settle 20 paise higher at 81.73 against US dollar ahead of the RBI monetary policy decision scheduled to come out on Friday.

Heavy capital outflows restricted the rupee gain, traders said.

At the interbank forex market, the local unit opened at 81.60 against the greenback. It witnessed an intra-day high of 81.58 and a low of 81.94 during the session.

It finally ended at 81.73, up 20 paise from its previous close.

On Wednesday, the rupee plunged below the 82-mark for the first time in intraday trade before settling 40 paise down at 81.93 against the dollar. (PTI)

30 Sep 2022, 07:29:06 AM IST

US stocks plummet to 22-month low as Fed continues to remain hawkish

US stocks plunged to the lowest since November 2020 as another group of Federal Reserve officials struck a hawkish tone, and turmoil in Europe continued to fray investor nerves.

The S&P 500 fell as much as 2.9% during Thursday’s session but trimmed losses as markets closed. Its decline wipes out an ill-timed attempt Wednesday to rebound from a six-day slide.

The tech-heavy Nasdaq 100 dropped nearly 4% during the session after St. Louis Fed President James Bullard said investors have now understood that they can’t escape additional rate hikes in coming months. The index was dragged down by Apple Inc., which fell as much as 6.1% after a rare analyst downgrade from Bank of America warning of weaker consumer demand for its popular devices. (Bloomberg)

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