Stock market live updates: Sensex gains 412 points after RBI policy outcome, Nifty ends above 17,750
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  • Stock market live updates: Sensex gains 412 points after RBI policy outcome, Nifty ends above 17,750
THE TIMES OF INDIA | Apr 08, 2022, 21:39:47 IST
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Stock market live updates: Sensex gains 412 points after RBI policy outcome, Nifty ends above 17,750

Domestic indices gave up early gains, bond yields jumped and the rupee strengthened on Friday after the central bank raised inflation expectations and gave first hints of gradually moving away from its ultra-loose monetary policy. The Reserve Bank of India kept the lending rate steady at 4% as widely expected and stuck to an accommodative stance to support a post-pandemic economic recovery. Stay with TOI for all latest updates.
14:56 (IST) Apr 08
India's tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31 as mop-up from income and other direct taxes as well as indirect taxes jumped, revenue secretary Tarun Bajaj said on Friday.
14:55 (IST) Apr 08
India's direct tax collection at Rs 14.10 lakh crore in FY22
Direct tax collection of Rs 14.10 lakh crore in 2021-22 is Rs 3.02 lakh crore more than budget estimate: Revenue secretary
14:49 (IST) Apr 08
With geopolitical tensions clouding the price situation, the Reserve Bank of India (RBI) has raised the retail inflation projection for the current financial year to 5.7 per cent from earlier forecast of 4.5 per cent, though it expects moderation in prices of cereals and pulses on a likely record harvest of winter season (rabi) crop. In wake of the ongoing Russia-Ukraine war, RBI governor Shaktikanta Das said the prices of crude oil as well as edible oil will likely remain elevated.
14:16 (IST) Apr 08
China stocks end higher on stimulus expectations amid Covid surge
China stocks closed higher on Friday, buoyed by expectations of further policy easing measures to support a slowing economy hit by the country's worst Covid-19 outbreak in two years. "Range-bound sentiment continues amid concerns on macro recovery, Covid-19 management and tightening liquidity globally," Morgan Stanley said in a note. "Earnings estimate reductions further accelerated."
13:42 (IST) Apr 08
India has rejected demands from large global and domestic beverage firms to exempt some plastic straws from a ban that takes effect on July 1, fanning fears of disruption in a multi-billion-dollar industry.
13:33 (IST) Apr 08
Abu Dhabi-based conglomerate International Holding Company PJSC (IHC) will invest $2 billion as primary capital in three Adani portfolio companies – Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL) – through preferential allotment route.
13:19 (IST) Apr 08
The ED on Friday conducted multiple raids in connection with its money laundering probe into the alleged irregularities in the National Stock Exchange (NSE) co-location case, officials said. The federal probe agency is covering nine premises in Delhi and neighbouring Gurugram including those of some brokers involved in the case, they said.
13:10 (IST) Apr 08
RBI governor Shaktikanta Das on Friday hinted at ending the accommodative policy stance that began three years ago, citing the rising uncertainties arising from the Ukraine war and resultant increase in prices, and said the time has come for the central bank to put its priorities on inflation management over growth.
13:03 (IST) Apr 08
Sensex is up 170 points. Top gainers and losers:
Sensex is up 170 points. Top gainers and losers:
12:24 (IST) Apr 08
This (the war) has introduced a new element to the scheme of things. Therefore, we have increased our inflation projection: Das
12:24 (IST) Apr 08
In February we had given a roadmap for inflation. War was a development that began at the end of February: Das
12:21 (IST) Apr 08
Fixed-rate reverse repo kept at 3.35% because it has no use in liquidity management as of now: RBI deputy governor Michael Patra
12:19 (IST) Apr 08
SDF gives us flexibility in implementing monetary policy. It will enable us to steralise liquidity if there is excess built up: Das
12:09 (IST) Apr 08
Liquidity withdrawal will be done in a multi-year timeframe. It can be two or three years depending on the situation: Das
12:08 (IST) Apr 08
SDF has been introduced. SDF will now be the bottom of the corridor: Das
12:08 (IST) Apr 08
We are gradually moving away from the accommodative stance: Das
12:07 (IST) Apr 08
We have put inflation before growth. For last 3 years, we had put growth ahead of inflation. This time we had revised that: Das
12:07 (IST) Apr 08
We have revised our inflation and growth projections. Primarily inflation has been revised due to war related factors: Shaktikanta Das at post monetary policy press conference
12:03 (IST) Apr 08
Equity benchmarks sensex and Nifty gave up early gains and were quoting flat during mid-session deals amid the Reserve Bank of India maintaining status quo on the benchmark lending rate.
11:58 (IST) Apr 08

With recovery in Indian economy still at a nascent stage and risks to growth enhanced despite elevated inflation, we expect the MPC to move to a neutral stance in August policy and anticipate a repo rate hike in H2FY23. Amid inability to explicitly support the government borrowing program, the RBI enhanced HTM limit by 100 bps, which could calm the bond markets despite a sharp increase in inflation forecast.

Garima Kapoor, economist, institutional equities, Elara Capital told Reuters