LIVE Stock Market Updates: Sensex, Nifty Jump Ahead Of RBI Policy Decision

The Reserve Bank of India’s Monetary Policy Committee, headed by Governor Shaktikanta Das, is due to release its sixth bi-monthly statement after conclusion of a three-day meeting. Economists, analysts and investors will monitor the policy statement and the central bank commentary closely for any signs of policy easing. While some economists expect the RBI to shift its stance to “neutral” from the current “calibrated tightening”, others say the possibility of a surprise rate cut on February 7 itself cannot be ruled out. Till Wednesday, the markets have extended their rally to five sessions in a row. The Sensex has added 1,090 points – a gain of about 3 per cent – since the RBI’s last monetary policy review on December 5. The Nifty has advanced 279 points, or 2.6 per cent, during  this period.

Here are the latest updates on the stock markets, ahead of the RBI policy statement:

Feb 07, 2019
10:59 (IST)
All sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Auto Index’s 1.6 percent gain. Nifty Media, Nifty Pharma and Nifty PSU Bank indices were also trading over 1 percent higher.
Feb 07, 2019
10:48 (IST)
Sun Pharma, Bajaj Auto, Yes Bank, Tata Motors, Hero MotoCorp and HCL Tech were the top gainers on the Sensex, trading between 1.30 per cent and 4.57 per cent higher.
Feb 07, 2019
10:32 (IST)
The Nifty Bank and Nifty Financial Services – the NSE’s sectoral indices for financial stocks – rose about 0.3 per cent each. Prominent gainers included Punjab National Bank, Yes Bank, Bajaj Holdings & Investment, ICICI Prudential Life Insurance and Max Financial Services, trading between 1 per cent and 6 per cent higher. 
Feb 07, 2019
10:28 (IST)
At 10:25 am, the Sensex traded 128 points – or about 0.4 per cent – higher at 37,103 while the Nifty was at 11,092, up 30 points – or 0.3 per cent – from the previous close
Feb 07, 2019
10:05 (IST)

Today’s statement from the central bank will mark the first under Governor Shaktikanta Das, who took office nearly a week after the last policy meet on December 5 by his predecessor Urjit Patel. 
Feb 07, 2019
10:04 (IST)
Feb 07, 2019
10:03 (IST)

Consumer inflation – which the central bank monitors primarily to formulate its policy – stood at 2.19% in December. That marked the slowest pace of inflation based on CPI or Consumer Price Index recorded since June 2017.
Feb 07, 2019
10:01 (IST)
The MPC is expected to be cautious on the inflationary impact of the budget even as fiscal slippage seems manageable, said Kotak in a note on February 5. “The MPC might raise concern on the quality of expenditure, especially when the borrowings (government and public enterprises) have increased significantly. However, the MPC decision will hinge solely on the expected benign inflation trajectory,” Kotak noted.
Feb 07, 2019
09:53 (IST)

Market breadth favoured the gains, with 959 stocks on the NSE trading higher agaisnt 604 laggards. On the BSE, 994 scrips advanced versus 585 that declined.
Feb 07, 2019
09:50 (IST)
The Nifty Auto – comprising automobile stocks – rose as much as 1.4 per cent. Other prominent gainers from the sector included TVS Motor, Mahindra & Mahindra and Tata Motors DVR.
Feb 07, 2019
09:46 (IST)
Top advancers on the 50-scrip index at the time were Bajaj Auto, Sun Pharma, Tata Motors, Yes Bank and Eicher Motors, trading between 1.5 per cent and 2.5 per cent higher.
Feb 07, 2019
09:45 (IST)

The Sensex jumped as much as 170 to touch 37,145 in early trade while the Nifty peeked above the 11,100 mark. At 9:43 am, the Sensex traded 127 – or about 0.4 per cent – higher at 37,103 and the Nifty was at 11,092, up 30 points from the previous close.
Feb 07, 2019
09:12 (IST)
However, the brokerage also acknowledged the possibility of the MPC deciding to tread cautiously and pushing a rate cut to the April policy review. “The RBI’s commentary on core inflation and interim budget should be closely watched,” it noted.
Feb 07, 2019
09:11 (IST)

Brokerage Edelweiss said in a note on Wednesday that it expects a softer stance from the MPC “with a good chance of a rate cut as well with soft headline inflation, slowing growth momentum and peaking of global rates”. 
Feb 07, 2019
09:08 (IST)

Domestic stock markets have extended their rally to five days in a row. On Wednesday, the Sensex surged 358 points to close at 36,975 and the Nifty logged its highest closing level in over four months. (Read more: Markets extend rally to fifth straight day)
Feb 07, 2019
09:05 (IST)
Today, the SGX Nifty on the Singapore Exchange – an early indicator of the NSE Nifty in India – was last seen trading 24 points – or about 0.2 per cent – lower at 11,081.

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