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    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 managed to finish in the green on Friday though off day's highs, after the RBI announced a hike in the repo rate — the key rate at which it lends money to commercial banks — that was bigger than what the Street had expected. This takes the total raise in the COVID-era rate to 140 basis points. Broader markets were a mixed bag, with the Nifty Midcap 100 rising 0.2 percent but its smallcap counterpart slipping 0.1 percent. Interest rate-sensitive stocks — or stocks from spaces likely to be impacted by changes in interest rates — saw mixed moves after the RBI's policy action.

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    Investors should look at banking space, credit growth beginning to improve: Anand Tandon 

    Market expert Anand Tandon suggests investors to look at the banking sector. "Credit growth is beginning to improve and balance sheets are much clearer. So it is better to look for normal banks that can participate in loan growth and show an increase in earnings," he tells CNBC-TV18.

    "There are many low hanging fruits in the banking sector. SBI has done exceedingly well and Bank of Baroda is catching up. I would prefer to have companies that have diversified portfolios rather than just be focused on one particular sector,” Tandon adds. 

    Rupee ends higher at 79.24 vs dollar

    On Thursday, it had settled at 79.47 against the greenback.

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Market At Close | Sensex and Nifty50 hold on to the green though off day's highs

    Here are some highlights:

    --SBI sees profit booking ahead of earnings on Saturday

    --Titan rises after operational beat 

    --Bharti Airtel rises one percent ahead of results on Monday

    --Shree Cement and UltraTech rise following in-line earnings by Dalmia Bharat

    --Mnappuram jumps six percent after better-than-expected earnings

    --NBCC, IndiGo, Tata Communications, NMDC, Muthoot Finance top midcap gainers

    --Balkrishna Industries falls seven percent as earnings miss estimates

    --GAIL falls five percent as brokerage downgrades stock to 'sell' after earnings

    --Balrampur Chini extends losses to second day after earnings miss estimates

    --Market breadth favours the bulls — advance-decline ratio at 5:4

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Large Trade | NMDC shares worth Rs 192 crore change hands

    A total of 1.7 crore NMDC shares — representing 0.6 percent of the company's equity — worth Rs 192 crore change hands at Rs 111.35 apiece. 

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Rolex Rings profit rises 64% to Rs 50 crore in April-June

    Its revenue increased 26.2 percent on a year-on-year basis to Rs 286 crore, according to a regulatory filing.

    The company's margin, however, slipped to 22.3 percent from 23.6 percent in the year-ago period.

    The Rolex Rings stock slipped into the red after the earnings announcement. Rolex Rings shares fell as much as three percent to Rs 1,736.1 apiece on BSE, having climbed to as high as Rs 1,855 earlier in the day. 

    Market off day's highs but ICICI Bank, Infosys and UltraTech help headline indices stay in the green

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Titan shares extend gains after earnings announcement

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Titan clocks better-than-expected 13-fold jump in quarterly profit to Rs 793 crore

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    M&M profit jumps 67% to Rs 1,430 crore, almost in line with Street estimates

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Mahindra & Mahindra shares slip into the red after auto major's quarterly revenue misses Street estimates

    M&M reported revenue of Rs 19,613 crore for the April-June period. Analysts in a CNBC-TV18 poll had estimated its quarterly revenue at Rs 19,822 crore. 

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Force Motors total sales rise 26.3% to 2,299 vehicles in July

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    RBI may follow up with 35-50 bps hike in next policy review: Ajay Srivastava 

    Ajay Srivastava of Dimensions Corp Finance Services tells CNBC-TV18 that the latest RBI policy is great. "The RBI Governor is now really getting on to the task of getting inflation under control. He has not mentioned it but I think in the back of his mind, he knows that the next level after commodity inflation will come what's happening the West... wage push inflation. A follow up hike will be the ideal thing to do," he says. 

    EasyTrip and SpiceJet in the green

    The agreement involves selling of air tickets in Thailand.

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    RBI may not be very aggressive in subsequent policy meetings: Motilal Oswal

    Motilal Oswal, MD and CEO at Motilal Oswal Financial Services, says that despite Friday's hike in the repo rate, the RBI expects inflation to remain above its comfort zone. 

    "We believe that commodity prices have cooled off including crude oil, and inflation may be peaking out," he adds. 

    IGL hikes piped cooking gas rate by Rs 2.63/unit in Delhi citing high input cost

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    SBI likely to clock 18% jump in quarterly profit

    The country's largest bank by assets will report its financial results on Saturday. The SBI stock rises by as much as Rs 9.3 or 1.7 percent to Rs 542.2 apiece on BSE. 

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    RBI Policy | Shaktikanta Das says domestic economic activity showing signs of broadening       

    Catch LIVE updates on RBI policy here

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    RBI Policy | Shaktikanta Das says India has been grappling with high inflation but to be among fastest growing economies in the world

    Here are some highlights of the RBI's Aug 5 policy: 

    --MPC votes unanimously to raise repo rate by 50 bps to 5.4 percent            

    --Policy stance retained at "withdrawal of accommodation"

    --Average CPI forecast for the year ending March 2023 unchanged at 6.7 percent 

    --GDP forecast for the year ending March 2023 retained at 7.2 percent        

    --Real GDP growth in April-June seen at 16.2 percent, in July-September at 6.2 percent 

    Catch LIVE updates on RBI policy here

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    RBI hikes repo rate by 50 basis points 

    The RBI Governor-led Monetary Policy Committee votes unanimously to increase the policy repo rate by 50 bps to 5.4 percent. 

    Catch LIVE updates on RBI policy here

    SBI, ICICI Bank, Kotak Bank shares rise but HDFC twins fall ahead of RBI policy outcome

    Interest rate-sensitive stocks — or stocks from spaces likely to be impacted by changes in interest rates — saw mixed moves on Friday ahead of what could be a third straight hike in the COVID-era interest rate by the RBI. The central bank's Monetary Policy Committee — the panel led by RBI Governor Shaktikanta Das that decides benchmark interest rates in the country — has already increased the repo rate by 90 basis points since May.

    In the banking and financial services pack, for instance, stocks such as SBI, ICICI Bank, Kotak Mahindra Bank and Axis Bank rose, but scrips such as HDFC, HDFC Bank, SBI Cards and IndusInd slipped into the red. (Read more)

    Britannia shares down nearly 1% 

    The Britannia stock fall by as much as Rs 35.6 or 0.9 percent to Rs 3,742 apiece on BSE. Weakness in Britannia shares comes a day after the FMCG major reported its financial results for the April-June period. 

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    37 stocks in Nifty50 basket rise 

    Here's a look at the top gainers:

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Sensex opens 100 pts higher and Nifty50 crosses 17,400 

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Half of the bankers polled by CNBC-TV18 expect a 35 bps hike in repo rate today

    Catch LIVE updates on RBI policy here

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    RBI likely to hike lending rate by 35-50 bps today, retain inflation and growth projections

    Half of the economists polled by CNBC-TV18 expect RBI Governor Shaktikanta Das-led Monetary Policy Committee to announce a 35 bps hike in the repo rate today. 

    A majority of them believe that the key lending rate will be at 5.75 percent by December, and will touch six percent by the end of the current cycle of policy tightening. (Read more on what to expect from RBI today)

    Catch LIVE updates on RBI policy here

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Here's what to expect from RBI policy today

    Trade Setup | More upside on the cards for Nifty once the bulls take it past 17,500 decisively

    High volatility in the Nifty Bank a day ahead of the RBI policy suggests the bulls and the bears are trying to fight from both ends with support at 37,200 and resistance at 38,200, says Kunal Shah, Senior Technical Analyst at LKP Securities.

    "The index needs to break on either side on a closing basis for a trending move... It is already in an overbought zone and a correction cannot be ruled out," he adds. (Read more on key market cues and important levels to track)

    Stock Market Highlights: Sensex ends 89 pts higher and Nifty almost at 17,400 after RBI rate hike

    Global Cues | Crude oil returns to levels seen before Ukraine crisis 

    Wall Street a mixed bag on Thursday as investors eye jobs data

    The three main US main indices ended mixed in a dull session on Thursday as gains in high-growth stocks offset losses in energy shares.

    Investors looked ahead to monthly jobs report for clues on the pace of interest rate hikes by the Fed.

    --Dow Jones: down 0.3 percent

    --S&P 500: down 0.1 percent

    --Nasdaq Composite: up 0.4 percent

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