Sensex, Nifty end in red after RBI hikes repo rate to 6.5%; HDFC twins, ICICI Bank bleed; TCS, ITC up 1%

By: | Updated:Aug 01, 2018 4:00 pm

Share Market Today: Indian stock markets (Sensex and Nifty) closed in negative territory recovering partly from the day's low post-RBI repo rate hike with BSE Sensex losing 85 points and NSE Nifty settling below 11,350.

Share Market Today: A man looking at the stock ticker outside the Bombay Stock Exchange building. (Image: Reuters)

Share Market Today: Indian stock markets (Sensex and Nifty) closed in negative territory recovering partly from the day’s low post-RBI repo rate hike with BSE Sensex losing 85 points and NSE Nifty settling below 11,350. Shares of heavyweight companies such as HDFC, HDFC Bank and ICICI Bank were the major losers among the rate-sensitive stocks, also, these shares were the major contributors in wiping out the Sensex gains.

India’s stock markets went into deep losses after the Reserve Bank of India (RBI) hiked the repo rates by 25 basis points to 6.5% with BSE Sensex falling 274 points from the today’s all-time high of 37,711.87 to a day’s low of 37,437.63. The hike in the repo rates was largely in line with the street expectations.

RBI Monetary Policy August 2018

The Reserve Bank of India (RBI) pulled the trigger again to keep India’s inflation under control by raising the repo rate by 25 basis points in its August bi-monthly monetary policy meeting, taking it to a two-year high.

Indian share markets pared gains in the mid-morning deals with BSE Sensex falling over 100 points from the all-time high of 37,711.87 before RBI’s repo rate decision. The domestic stock markets went higher after opening flat on Wednesday with BSE Sensex crossing 37,700 for the first time ever in stock market history and NSE Nifty nearing the 11,400-mark following the uptick in Reliance Industries, TCS and ITC.

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Share Market Today: Sensex Today, Nifty Today, rupee vs dollar exchange rate, latest stock market news, top stocks today

16:00 (IST) 01 Aug 2018
Most traded stocks on NSE on Wednesday, 1 August 2018

15:58 (IST) 01 Aug 2018
NSE Nifty | Top 10 losers

15:57 (IST) 01 Aug 2018
NSE Nifty | Top 10 gainers

15:56 (IST) 01 Aug 2018
Sensex down 85 points | Top contributurs

15:39 (IST) 01 Aug 2018
Closing bell!

Indian stock markets ended in negative territory after gaining for nine straight days with BSE Sensex losing 85 points and NSE Nifty finishing below 11,350 after the Reserve Bank of India hiked the repo rates by 25 basis points to a 2-year high of 6.5%. BSE Sensex concluded down 84.96 points or 0.23% at 37,521.62 and NSE Nifty finished 10.30 points or 0.09% lower at 11,346.20. 

15:28 (IST) 01 Aug 2018
BSE launches chatbot

Leading stock exchange BSE today announced the launch of 'Ask Motabhai', an artificial intelligence (AI)-based 'chatbot', to provide on-demand data and information from its website. The chatbot has been built in partnership with Microsoft and Shephertz, the BSE said in a statement. 

15:19 (IST) 01 Aug 2018
RBI retains GDP growth forecast at 7.4%

The Reserve Bank today retained the GDP forecast for the current fiscal at 7.4% on robust corporate earnings and buoyant rural demand, though it flagged global trade tensions for Indian exports.

15:18 (IST) 01 Aug 2018
IDBI Bank up 7% after cabinet clears the deal with LIC

Shares of IDBI Bank rose nearly 7% after the cabinet 51% stake sale to LIC. The stock of IDBI Bank rose 6.97% to Rs 62.95 on BSE today. 

15:15 (IST) 01 Aug 2018
Cabinet clears IDBI-LIC deal

The Cabinet today cleared the purchase of 51% controlling stake in IDBI Bank by state-run insurer Life Insurance Corporation (LIC), PTI reported citing unidentified sources. As per the proposal, the debt-laden bank will issue preferential shares to Life Insurance Corporation (LIC) to raise capital, the report added. 

15:14 (IST) 01 Aug 2018
RBI inflation forecast

The Reserve Bank has estimated the retail inflation at 4.8% for the second half of current financial year following the expectation of increase in food prices due to hike in minimum support price (MSP). For the July-September quarter, it has projected inflation to be at 4.6%.

15:07 (IST) 01 Aug 2018
RBI repo rate hike

"Since the last meeting of the MPC in June 2018, global economic activity has continued to maintain steam; however, global growth has become uneven and risks to the outlook have increased with rising trade tensions. Among advanced economies (AEs), the US economy rebounded strongly in Q2, after modest growth in Q1, on the back of rising personal consumption expenditures and exports. In the Euro Area, weak growth in Q1 continued in Q2 due to subdued consumer demand, weighed down by political uncertainty and a strong currency. In Japan, recent data on retail sales, consumer confidence and business sentiment point to moderation in growth," RBI said in a statement. 

15:04 (IST) 01 Aug 2018
RBI repo rate hike

Dr. Chetan Ghate, Dr. Pami Dua, Dr. Michael Debabrata Patra, Dr. Viral V. Acharya and Dr. Urjit R. Patel voted in favour of the decision; Dr. Ravindra H. Dholakia voted against the decision, RBI said. 

14:58 (IST) 01 Aug 2018
Sensex Live: Sensex drops 274 points from all-time high after RBI repo rate hike

Sensex Live: The benchmark Sensex shed as much as 274 points from the today's all-time high after RBI repo rate hike. BSE Sensex touched a low of 37437.63, down by 274.24 points from the all-time high of 37,711.87. 

14:49 (IST) 01 Aug 2018
Sensex Live: Rate-sensitive stocks drag Sensex

14:48 (IST) 01 Aug 2018
Sensex Live: Sensex drops 168.95 points after RBI repo rate hike

Sensex Live: BSE Sensex dropped 168.95 points after the Reserve Bank of India hiked repo rates by 25 bps to a 2-year high of 6.5%. 

14:45 (IST) 01 Aug 2018
Rupee trades volatile vs US dollar

The Indian Rupee quickly shuttled between a range of 68.4863 and 68.6263 per unit US dollar after RBI repo rate hike. 

14:43 (IST) 01 Aug 2018
Sensex Live: Stock markets extend losses

Sensex Live: Indian equity markets extended losses after the Reserve Bank of India hiked the benchmark repo rate by 25 basis points to 6.5%.

BSE Sensex was trading at 37,467.07, down 139.51 or 0.37% and NSE Nifty was trading at 11,340.70, down 15.80 points or 0.14%. 

14:30 (IST) 01 Aug 2018
RBI hikes repo rate by 25 bps!

Breaking! The Reserve Bank of India (RBI) hikes the benchmark repo rates by 25 basis points to 6.5%.

14:21 (IST) 01 Aug 2018
NSE Live: Rate sensitive stocks mostly lower before RBI repo rate decision

NSE Live: Most of the rate-sensitive stocks were trading lower before the RBI Monetary Policy announcement. The 3 benchmark indices Nifty Bank, Nifty Financial Services were trading down. 

14:17 (IST) 01 Aug 2018
Rupee trades flat before RBI Monetary Policy

Rupee to dollar exchange rate: The Indian rupee was trading little changed at 68.5612, down by 1 paisa per unit US dollar, Bloomberg data showed. 

14:12 (IST) 01 Aug 2018
60% chance or RBI hiking repo rates, says UBS

60% chance of RBI hiking repo rates by 25 bps in August 2018 MPC meet: UBS

There is 60% probability that the RBI (Reserve Bank of India) in its three-day bi-monthly MPC (Monetary Policy Committee) meeting may hike repo rates by 25 basis points, a UBS Securities report said.

14:02 (IST) 01 Aug 2018
Sensex Live: Sensex touches a low of 37,499 before RBI MPC

Sensex Live: The S&P BSE Sensex touched a low of 37,499.02 before RBI's MPC. 

13:59 (IST) 01 Aug 2018
Maruti Suzuki price hike

Maruti Suzuki India today said it will hike prices of its vehicles across models this month to offset adverse impacts of rise in commodity costs, foreign exchange fluctuations and fuel price increases, PTI reported. 

13:11 (IST) 01 Aug 2018
Sensex, Nifty Live: Markets lacklustre before RBI's repo rate decision

Sensex, Nifty Live: Indian stock markets traded dull an hour before RBI's repo rate decision on Wednesday. BSE Sensex was trading at 37,541.76, down 64.82 or 0.17% while NSE Nifty was trading at 11,353.65, down 2.85 points or 0.03%.

13:01 (IST) 01 Aug 2018
Will RBI hike repo rates today?

Thirty-seven of 63 economists in a Reuters poll last week said the Reserve Bank of India will raise rates on Wednesday, while inflation has been above the central bank's medium-term target of 4% for eight months and expected to stay that way through to the end of next year, a Reuters report said. Twenty-two economists said the next hike would come later this year, or early in 2019, the report added.

12:42 (IST) 01 Aug 2018
Sensex Live: Markets at noon

Sensex Live: Shares of TCS, Coal India, Power Grid, Sun Pharma, ONGC, Bajaj-Auto gained more than 1% each. 

12:20 (IST) 01 Aug 2018
Sensex Live: HDFC Bank Maruti Suzuki drag

Sensex Live: Shares of heavyweight companies such as HDFC Bank, Maruti Suzuki, ICICI Bank, Infosys, HDFC, Axis Bank, Tata Motors and SBI contributed the most in Sensex drop today. Collectively, these stocks wiped out as much as 118 points out of Sensex. 

12:16 (IST) 01 Aug 2018
Asian currencies under pressure

Most Asian currencies took to the sidelines on Wednesday, with China's yuan choppy amid media reports that Washington plans to raise tariffs on $200 billion of imported Chinese goods, a Reuters report said. Overall, traders were reluctant to make any big bets on regional currencies as they waited on the U.S. Federal Reserve's policy meeting later in the global day followed by the Bank of England's own rates review on Thursday, the report added. 

11:38 (IST) 01 Aug 2018
Nifty Live: Bajaj Auto rallies 2% on strong July sales

Nifty Live: Shares of Bajaj Auto surged more than 2% in the afternoon trades after the two-wheeler maker reported a rise of 30% in the total sales at 4,00,343 units in July as against total sales of 3,07,727 units in same month last year. The stock of Bajaj Auto climbed 2.49% to Rs 2,768 on BSE today. 

11:33 (IST) 01 Aug 2018
Sensex Live: Maruti Suzuki falls 25

Sensex Live: Shares of India's largest automaker Maruti Suzuki fell more than 2% in the afternoon deals after the company reported a marginal decline in the sales in July. Maruti Suzuki (India) July sales came at 1,64,369 units as compared to 1,65,346 units in July 2017.

11:29 (IST) 01 Aug 2018
Sensex Live: Sensex drops further

Sensex Live: The benchmark Sensex index fell 74.94 points to hit a days bottom of 37,531.64. 

11:26 (IST) 01 Aug 2018
Sensex Live: Top Sensex losers today

Sensex Live: Sensex was trading marginally lower in negative territory after India's manufacturing activity slowed in July. Shares of Tata Motors, Maruti Suzuki, Axis Bank, HDFC Bank, Tata Steel and ICICI Bank were the major Sensex losers today.  

11:24 (IST) 01 Aug 2018
OMCs shine on crude weakness

Shares of oil marketing companies rose up to 3% on Wednesday following the weakness in crude oil prices in the international markets. Shares of major oil marketers such as IOC, HPCL, BPCL surged 2.4-3.2% today. Shares of Hindustan Petroleum Corporation Ltd hit their highest since 26 June. 

11:18 (IST) 01 Aug 2018
PMI drops in July

The country's manufacturing sector activity moderated in July amid softer increase in output, new orders and employment, says a monthly survey.  The Nikkei India Manufacturing Purchasing Managers Index (PMI) stood at 52.3 in July, down from 53.1 in June, PTI reported. This is the 12th consecutive month that the manufacturing PMI remained above the 50-point mark, the report added. 

11:08 (IST) 01 Aug 2018
Nifty Live: Nifty 50 index trades flat

Nifty Live: NSE Nifty 50 index was trading flat hours before the Reserve Bank of India's Monetary Policy Committee outcome. The broader Nifty 50 index touched a low of 11,358.65, down 31.9 points from the all-time peak of 11,390.55. 

11:03 (IST) 01 Aug 2018
Sensex Live: Sensex falls 116 points from all-time high

Sensex Live: The benchmark Sensex index fell in negative territory in the mid-morning trades on Wednesday ahead of RBI's MPC outcome. BSE Sensex made a day's low of 37,595.59, down 10.99 points from the previous closing and down 116.28 points from the all-time high of 37,711.87. 

10:52 (IST) 01 Aug 2018
Crude oil prices drop

Oil prices fell on Wednesday after industry data showed US stockpiles of crude unexpectedly rose, and as economic growth slowed, especially in Asia, amid the escalating trade dispute between the United States and China, a Reuters report said. Brent spot crude oil futures dropped 0.4% to $73.91 a barrel while US crude futures were 0.6% at $68.38 a barrel. 

10:51 (IST) 01 Aug 2018
Apple earnings beat analyst expectations!

Apple made more money from higher-priced iPhones in the latest quarter, even as the number of phones it sold did not change much, AP said in a report. Apple unit sales rose just 1% from a year ago, but the average selling price grew 20% to $724 per iPhone, up from $606 a year ago. Apple stocks climbed 2.5% to $195.14 in aftermarket trading on Tuesday, after the company's reported third-quarter profit and sales were better than analysts expected, the report added. 

10:47 (IST) 01 Aug 2018
Nifty Live: IndusInd Bank hits all-time high

Nifty Live: Shares of India's sixth-largest private sector lender IndusInd Bank rose more than 1% to hit a record high in late morning deals. The stock of IndusInd Bank advanced 1.3% an all-time high of Rs 2,021 on NSE today. According to a Reuters report, IndusInd Bank may test a resistance level of Rs 2,068.75. 

10:29 (IST) 01 Aug 2018
Sensex Live: Top 12 Sensex gainers

10:28 (IST) 01 Aug 2018
Brokerages on Tata Motors

Jefferies has reduced the target price to Rs 355 from Rs 440 maintaining a "buy" rating, Reuters said in a report. Credit Suisse has slashed its target price to Rs 440 from Rs 460 maintaining "outperform" rating. According to Reuters, 26 of 39 brokerages rate the stock "buy" or higher, 11 "hold" and two "sell" or lower with a median target price of Rs 358. 

10:24 (IST) 01 Aug 2018
Nifty Live: Top 10 Nifty losers

10:23 (IST) 01 Aug 2018
Bharti Airtel gains 2%

Shares of India's telecom giant Bharti Airtel surged 2% in the late morning deals on Wednesday and were the top gainers among all the components of BSE Sensex index. The stock of Bharti Airtel rose 2% to Rs 398.55 on BSE today. Shares of Bharti Airtel have returned 16% in the last two weeks. 

10:18 (IST) 01 Aug 2018
Nifty Live: Top 10 Nifty gainers today

10:14 (IST) 01 Aug 2018
ADAG stocks shine!

Shares of Reliance Naval and Engineering and RCom (Reliance Communications) were among the top five gainers on BSE's 'A' group. The stock of Reliance Naval was trading up 4.93% at Rs 14.25 while the stock of RCom was trading 4.31% higher at Rs 14.99 on BSE today.

10:12 (IST) 01 Aug 2018
Tata Motors crashes 6%

Shares of Tata Motors crashed more than 6% in the early trades on Wednesday after the Tata Group's automaker reported a consolidated loss of Rs 1,862.57 crore for the Apr-Jun period of the fiscal year 2018-2019. The stock of Tata Motors fell 6.11% to a day's bottom of Rs 248 on BSE while the stock touched a low of Rs 250 on NSE today. The surprise loss of over Rs 1,800 crore was largely due to multiple challenges that its British arm JLR faced in major markets, including China, UK, Europe and the US, a PTI report said. The company had reported a net profit of Rs 3,199.93 crore in the April-June quarter of 2017-18.

10:05 (IST) 01 Aug 2018
Anil Ambani group stocks plunge

Shares of Anil Dhirubhai Ambani Group plunged in the morning session on Wednesday with Reliance Infrastructure trading down 4.04% at Rs 383.25 and Reliance Capital trading 3.40% lower at Rs 407.25 on BSE today. 

10:02 (IST) 01 Aug 2018
Experts take: RBI's third MPC meeting FY19

Will RBI hike rates or take a pause? What experts say

The RBI Monetary Policy Committee (MPC) is all set to decide on the key interest rates amid fears of elevated oil prices and rising inflation in its third bi-monthly meet this year.

09:59 (IST) 01 Aug 2018
RBI Monetary Policy August 2018

The Reserve Bank of India (RBI) is set to conclude its three-day bi-monthly Monetary Policy Committee (MPC) meeting today. This is the third time RBI is meeting in the financial year 2018-2019. The six-member MPC chaired by Governor Urjit Patel will announce the change in benchmark repo rates and stance, if any, at 2:30 pm today, 1 August 2018. 

Indian equities logged record highs in the early session today with BSE Sensex and NSE Nifty hitting their respective all-time highs while Tata Motors shares plunged more than 6% after the Tata Group's automaker posted a Q1 loss of over Rs 1,800 crore. Tata Motors shares ended the day with marginal gains, up 0.3% at Rs 264.95. The market sentiments were largely optimistic on Wednesday following the positive global cues with NYSE's Dow Jones Industrial Average rising more than 100 points.
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