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

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

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.

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

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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