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RBI's Rate Cut Sends Market Soaring: Sensex Climbs 700 pts, Nifty Flirts with 25K

OutlookIndia

OutlookIndia · 2m ago

RBI's Rate Cut Sends Market Soaring: Sensex Climbs 700 pts, Nifty Flirts with 25K

The Reserve Bank of India's unexpected 50 basis points rate cut sparked a surge in the stock market, with the Sensex rising nearly 700 points and the Nifty nearing the 25,000 mark. The move shifted the policy stance to 'neutral,' signaling a potential halt in future rate cuts. While banking and realty sectors saw gains, some analysts predict challenges ahead for banking stocks due to margin pressures despite expected credit growth.

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Related News

Sensex, Nifty mirror global rout as trade war overshadows RBI's rate cut

VCCircle

VCCircle · 4m ago

Sensex, Nifty mirror global rout as trade war overshadows RBI's rate cut

Indian shares fell alongside a global market downturn sparked by U.S. tariffs, overshadowing the Reserve Bank of India's rate cut and dovish shift. The NSE Nifty 50 and BSE Sensex both declined as trade tensions escalated into a global economic conflict. Despite the RBI's move to an "accommodative" monetary policy, Indian equities, including IT and pharma sectors, experienced broad-based selling. Conversely, consumer stocks rose following a lowered inflation forecast. Global markets, including Asia and Europe, also suffered losses.

Nifty 50 logs longest-ever rally, hits record high

VCCircle

VCCircle · 12m ago

Nifty 50 logs longest-ever rally, hits record high

India's Nifty 50 index reached a record high, logging its longest-ever rally of 12 consecutive sessions. The benchmark NSE Nifty 50 rose 0.33% to 25,235.9, while the S&P BSE Sensex added 0.28% to 82,365.77. The rally has been fuelled by hopes of an imminent US interest rate cut and robust US economic data. IT and pharma companies received the biggest boost, gaining 4.74% and 6.61% respectively in August.

Sensex, Nifty continue to correct even as global equities recover from rout

VCCircle

VCCircle · 1y ago

Sensex, Nifty continue to correct even as global equities recover from rout

Indian benchmark equity indexes, Sensex and Nifty, continued to decline despite global equities recovering. Valuation concerns and global uncertainties are denting investor sentiment. The Nifty 50 index fell 0.26% to 23,992.55, while the Sensex dropped 0.21% to 78,593.07. Although the indexes initially rose by 1.2%, they later faced profit booking. Investors are awaiting clarity on the US economy and rate cut trajectory. The decline contrasts with positive sentiment in most Asian markets and recovery in US stock index futures. Financials and information technology companies were the most impacted sectors, while textile makers saw gains amid political unrest in Bangladesh.

Nifty 50 closes at new high, records longest weekly rising streak of 2024

VCCircle

VCCircle · 1y ago

Nifty 50 closes at new high, records longest weekly rising streak of 2024

India's Nifty 50 index reached a new high and recorded its longest weekly rising streak of the year. Energy stocks offset the decline in HDFC Bank, pushing the Nifty 50 to a 0.09% gain, while the S&P BSE Sensex dipped 0.07%. Both indexes settled at record closing highs for the majority of the week, with the Nifty 50 adding 1.2% overall. IT stocks, including Infosys and Tata Consultancy Services, led the gains with a weekly increase of 4.3%, supported by soft US economic data and expectations of a rate cut in September.

Markets surge after RBI surprises with steep rate cut

Inshorts · 2m ago

Markets surge after RBI surprises with steep rate cut

The Sensex surged 746 points and the Nifty crossed 25,000 after the RBI surprised markets with a 50 bps rate cut and a 100 bps CRR reduction. The central bank also shifted its stance to neutral. Broader indices gained, the rupee strengthened slightly, and crude prices rose, driven by strong US jobs report and improved sentiment on China trade talks.

Sensex, Nifty log highest closing levels in nearly four months

VCCircle

VCCircle · 4m ago

Sensex, Nifty log highest closing levels in nearly four months

India's benchmark indexes, Sensex and Nifty, hit their highest closing levels in nearly four months due to gains in financials after the central bank relaxed deposit buffer rules. Sensex rose 0.24% and Nifty 0.17%, marking their sixth consecutive session of gains. RBI's measures are expected to increase banks' net interest margin and net profit. Meanwhile, bank and consumer stocks saw gains, whereas IT stocks slightly declined. IndusInd Bank dropped due to audit concerns.

Rupee falls 35 paise to hit all-time low of 83.48 against US dollar

Money Control

Money Control · 1y ago

Rupee falls 35 paise to hit all-time low of 83.48 against US dollar

The Indian rupee depreciated to a record low of 83.48 against the US dollar as the greenback strengthened against major currencies. The decline was driven by the surprising interest rate cut by the Swiss National Bank, which increased the likelihood of a rate cut by the European Central Bank. Foreign fund outflows also impacted the rupee. However, the domestic equity market showed gains, with the Sensex rising by 0.26% and the Nifty by 0.39%. Overall, the rupee is expected to have a negative bias due to the strong US dollar and potential rebound in crude oil prices.

F&O Radar| Nifty futures rollover climbs to 79.53%, signals trader confidence ahead: Sudeep Shah

Economic Times

Economic Times · 2m ago

F&O Radar| Nifty futures rollover climbs to 79.53%, signals trader confidence ahead: Sudeep Shah

Indian markets experienced a breakout from a five-week consolidation due to improved global sentiment and FII buying interest, with the Nifty and Sensex closing near their weekly highs. Analysts highlight technical breakout patterns and renewed buying momentum across sectors. Rollover data shows increased participation in Nifty futures. Bank Nifty achieved all-time highs, supported by technical indicators, suggesting continued strength. FIIs remained net buyers for four months, indicating confidence in Indian equities, with sectoral indices showing bullish trends.

Gainers & Losers: Stocks that moved the most on August 16

Money Control

Money Control · 1y ago

Gainers & Losers: Stocks that moved the most on August 16

Benchmark indices Nifty and Sensex closed the week on a positive note, driven by hopes of a US Federal Reserve rate cut. Hindustan Aeronautics reported satisfactory Q1 results, boosting investor confidence. Hindustan Zinc shares plunged as promoter Vedanta Ltd divested stake. Suprajit Engineering saw a 15.6% surge in its shares after announcing a share buyback. Ola Electric Mobility received a 'Buy' rating and Mahindra & Mahindra's new vehicle launch gained analysts' confidence. Paras Defence and Space Technologies secured a significant order, while RHI Magnesita India reported strong Q1 results. Nifty IT surged, while Max India suffered losses.

Sensex, Nifty rise on optimism over trade negotiations, potential RBI rate cut

VCCircle

VCCircle · 2m ago

Sensex, Nifty rise on optimism over trade negotiations, potential RBI rate cut

Sensex and Nifty indices rose about 0.32% each, reversing a three-day decline due to optimism over U.S.-China trade talks and expectations of an RBI rate cut. Most sectors advanced with smallcaps and midcaps increasing around 0.8%. Notable stock movements included Gland Pharma's 2.2% gain after a drug approval, while Sun Pharma Advanced Research fell sharply by 19.7% due to unsuccessful drug trials. Meanwhile, Aditya Birla Fashion saw a 10.7% decline due to Flipkart's stake unloading.

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