Assembly - Stock market live : Nifty holds 18,600; ITC up 2%, The BSE MidCap

Stock market live on May 30, 2023: The broader markets outperformed benchmarks. The BSE MidCap and SmallCap indices rose up to 0.18 per cent versus nearly flat BSE Sensex index

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STOCK MARKET LIVE: Equity benchmark indices exhibited range-bound movement in intra-day deals on Tuesday as investors remained on the sidelines ahead of US lawmakers' key vote on lifting the debt limit.  The BSE Sensex, swung from a low of 62,727 to a high of 63,031, and was flat in noon trade. The NSE Nifty50 was seen testing the 18,600 level.

 

The broader markets, meanwhile, outperformed benchmarks. The BSE MidCap and SmallCap indices rose up to 0.2 per cent versus nearly flat BSE Sensex index. On the NSE, the Midcap 100 index notched a new high of 33,695. 

  Among stocks, Hikal jumped 11 per cent on reporting a 74 per cent on-year rise in its Q4 profit to Rs 36 crore.   Dilip Buildcon zoomed 20 per cent after its JV won an order worth Rs 699 crore.   Sectorally, Nifty Metal was the only losing pocket, down 0.2 per cent. Realty index was flat, while others held slim gains. 

 

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The central bank held rates in its April policy

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Government capex increase in recent years expected to spur higher private investment in 2023-24, it says.

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The 250-bps hike in policy repo rate between

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Government capex increase in recent years

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India’s growth momentum is likely to be sustained in 2023-24

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stock Market Live: Sensex up marginally, Nifty holds 18,600; ITC up 2%

Inflation risks to moderate, growth momentum to sustain: RBI annual report

Government capex increase in recent years expected to spur higher private investment in 2023-24, it says. 

Consumer price index (CPI) based inflation, which averaged 6.7 per cent in 2022-23, may moderate this financial year as risks are likely to ebb with downward corrections in global commodity and food prices and easing of the pass-through from high input cost pressures of last year, said the Reserve Bank of India.

At the same time, India’s growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, the central bank said in its annual report for 2022-23 on Tuesday.

 

The 250-bps hike in policy repo rate between May 2022 and February 2023 would steer the disinflationary process, along with supply side measures to address transient demand-supply mismatch due to food and energy shocks, said the report.

The central bank held rates in its April policy though Governor Shaktikanta Das emphasised that it was a pause and not a pivot, thus retaining the option to tighten the monetary policy further.

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