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Market Movers: What changed for D-Street while you were sleeping

NEW DELHI: Financial markets are expecting RBI’s monetary policy committee to deliver a 25-50 basis points rate cut at the end of its three-day rate review today. Will such a move take the benchmark indices higher?

Let’s check out what may move the market all through Thursday:


  • Singapore trading sets stage for positive start
    Nifty futures on the Singapore Exchange were trading 24 points, or 0.20 per cent, higher at 11,736.50, indicating a positive start for the Nifty50.

  • Tech view: Nifty forms Bearish Engulfing candle
    Nifty50 snapped a four-day winning streak on Wednesday and closed in the red. In the process, it formed a Bearish Engulfing Candle on the daily chart. Yet, analysts said the market bias remains positive, as long as Nifty does not break below the 10,625 level.

  • Asian shares take a pause
    Asian shares paused near an eight-month peak on Thursday as investors awaited developments on trade talks between the United States and China, who appear closer to signing a deal. MSCI's broadest index of Asia-Pacific shares outside Japan took a breather after five straight days of gains. Japan's Nikkei was also flat to stay near a recent one-month top.

  • US stocks end higher
    On Wednesday, the Dow Jones Industrial Average index rose 39 points, or 0.15 per cent, to 26,218.13. The S&P500 index increased 6.16 points, or 0.21 per cent, to 2,873.40. The Nasdaq Composite index rose 46.86 points, or 0.60 per cent, to 7,895.55.

  • Oil prices edge lower
    Oil prices dipped on Thursday, with Brent edging away from the psychologically important $70 level after easing in the previous session on data showing a surprise build in US inventories. Brent futures eased 2 cents to $69.29 a barrel.

  • Metropolis IPO sees 9% bids on Day 1
    The diagnostics company has raised Rs 530 crore on Tuesday by allotting 60.24 lakh shares to 26 anchor investors at 880 per share. The 1,200-crore offer, which will run from April 3 to 5, consists of about 15.3 million shares.

  • RVNL IPO sails through
    Public sector firm Rail Vikas Nigam’s (RVNL) initial public offer was subscribed 1.77 times on the last day of the offer on Wednesday. Qualified institutional buyers (QIBs) quota was subscribed 1.36 times, Non-institutional investors (NII) 0.80 times and retail 2.78 times.

  • FIIs sell Rs 1,040 crore worth of equities
    Foreign portfolio investors (FPIs) sold Rs 10,40 crore worth of domestic stocks on Wednesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 81 crore, data suggested.


  • Rupee up: The rupee surged by 33 paise to close at 68.41 against the US dollar Wednesday amid the greenback's weakness against key rivals overseas, even as oil prices firmed up on supply concerns.

  • 10-yr bond yields: India 10-year bonds' yields remained unchanged at 7.27% on Wednesday over the previous trading session, according to RBI data.

  • Call rates: The overnight call money rate weighted average was 6.19% on Wednesday, according to RBI data. It moved in a range of 4.80-6.35%.


RBI will not be done even after April rate cut: Nikhil Gupta, MOFSL


‘I wish to be 5% ahead of the index. But right now, I am 5% behind’


  • RBI policy outcome today
    The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is likely to cut short-term policy rate by 25 basis points in its first bimonthly review of FY20 on Thursday. Analysts believe easing inflation may give RBI room to address growth concerns of the economy.

  • Skymet predicts below-normal monsoon
    Private weather forecaster Skymet has predicted below-normal monsoon rainfall this year (June to September) on account of the El Niño weather phenomenon that is sometimes associated with drought in the subcontinent. This clouds prospects of higher economic growth in a country whose farm sector is significantly dependent on the seasonal rainfall.

  • ADB cuts India’s growth forecast
    The Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount. Gross domestic product in India will probably increase 7.2% this year, down from a December forecast of 7.6%, according to the ADB’s latest Asian Development Outlook report.

  • SC verdict: Govt in damage-control mode
    Bruised by the Supreme Court’s verdict on RBI’s February 12, 2018, circular on resolving bad debt, the government is planning to authorise the central bank to refer companies to the Insolvency and Bankruptcy Code (IBC) on a case-by-case basis in public interest by invoking Section 35AA of the Banking Regulation Act.

  • 2018-19 saw lowest new investment proposals in 14 yrs
    India saw the lowest number of new investment proposals since 2004-05 during the last fiscal ended March, according to a report by the Centre for Monitoring Indian Economy (CMIE). This lowest figure of new investments recorded in 14 years added up to "a dismal" Rs 9.5 trillion (9.5 lakh crore). The report added that 2018-19 would be the fourth consecutive year of decline in new investment proposals which began in 2015-16.
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