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Sep 30, 2019 03:40 PM IST | Source: Moneycontrol.com

Closing Bell: Nifty below 11,500, Sensex down 155 pts; Yes Bank falls 14%, auto stocks slip

The Sensex was down 155.24 points at 38,667.33, while Nifty was down 37.90 points at 11,474.50

  • September 30, 2019 06:16 PM IST

  • September 30, 2019 05:44 PM IST

    RBI Policy Expectations

    "The MPC will be going into the meeting with 1QFY20 GDP growth at 5% against estimate of 5.8-6.6% in 1HFY20 and 6.9% for FY2020 and having unequivocally expressed growth as its primary concern. With inflation remaining within its comfort range, despite recent onion price increases, revisions to its growth forecast warrant a sharper-than-usual rate cut in the October policy. We pencil in a 40 bps of rate cut which should be a signal to the market that the MPC is not quite done as it front loads the remaining couple of rate cuts in the cycle," Suvodeep Rakshit, Vice President & Senior Economist, Kotak Institutional Equities said.

  • September 30, 2019 04:59 PM IST

    Core sector dips 0.5 percent in August

  • September 30, 2019 04:55 PM IST

    Market Outlook

    "We expect that in the near term RBI policy outcome (scheduled on October 04th) will provide some direction to the markets. Further, markets are likely to remain range bound till the beginning of the earnings season from mid-October. Moreover, global developments particularly US-China trade war and crude oil prices may continue to induce volatility in the markets. We suggest investors should stick to stock specific approach," Ajit Mishra Vice President, Research, Religare Broking said.

  • September 30, 2019 04:38 PM IST

    Technical View

    "Nifty is trading in a range of 200 points since last 5 days whereas 11,600 is standing as crucial resistance and 11,400 is acting as strong support. As long as the index is trading above 5 EMA placed around 11,450, we suggest opting ‘Buy on dip’ strategy. Moreover, a sustained move below 11,400 will confirm the reversal," Shabbir Kayyumi, Head of Technical Research at Narnolia Financial Advisors said.

  • September 30, 2019 04:37 PM IST

    Government approved relief plan for Jaypee homebuyers and NBCC is going to build stuck projects, reports CNBC-TV18.

  • September 30, 2019 03:45 PM IST

    Japan’s PMDA completes GMP inspection of Lupin’s Goa facility: The company announced the completion of the Good Manufacturing Practices (GMP) inspection of its Goa facility (Unit - I & II), by the Pharmaceutical and Medical Devices Agency (PMDA), Japan.

  • September 30, 2019 03:43 PM IST

    Suvodeep Rakshit, Vice President & Sr. Economist, Kotak Institutional Equities:

    The MPC will be going into the meeting with 1QFY20 GDP growth at 5% against estimate of 5.8-6.6% in 1HFY20 and 6.9% for FY2020 and having unequivocally expressed growth as its primary concern. With inflation remaining within its comfort range, despite recent onion price increases, revisions to its growth forecast warrant a sharper-than-usual rate cut in the October policy. We pencil in a 40 bps of rate cut which should be a signal to the market that the MPC is not quite done as it front loads the remaining couple of rate cuts in the cycle. Further, with the start of the external benchmarked loans in October, a larger rate cut will help in quicker transmission of rate cuts even as the non-benchmarked loans continue to factor in the past rate cuts.

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