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.
11:48 (IST) Apr 08

Amid increased uncertainty regarding the outlook for inflation and growth owing to Russian-Ukraine crisis, the MPC today decided to stay course on its pro-growth stance even as evolving global dynamics compelled an upward revision to its inflation projection and a return to pre-pandemic policy rate corridor.

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

11:35 (IST) Apr 08
The RBI's decision comes against the backdrop of several global peers, including the US Federal Reserve, starting to raise rates to counter a price surge.
11:25 (IST) Apr 08
The Reserve Bank of India on Friday left key rates unchanged at 4 percent and maintained an accommodative stance as the ongoing Russia-Ukraine conflict has pushed up the cost of commodities internationally, resulting in a higher inflationary trend globally.
11:24 (IST) Apr 08

The RBI turned the policy corner, turning more hawkish in today's policy. While the repo rate and stance were unchanged, the central bank normalised the policy corridor (with the introduction of SDF at 3.75%) and said it will focus on withdrawal of accomodation. Recognising inflationary risks, the RBI raised its inflation to 5.7% (up by 120 bps) and lowered its growth forecast to 7.2%

Sakshi Gupta, senior economist, HDFC Bank told Reuters

11:12 (IST) Apr 08
Nifty's movement today
Nifty's movement today
11:04 (IST) Apr 08
Sensex is trading currently flat. Top gainers and losers:
Sensex is trading currently flat. Top gainers and losers:
11:01 (IST) Apr 08
The Reserve Bank of India (RBI) on Friday kept key interest rates unchanged for the eleventh straight time in a row, and retained accommodative stance.
10:37 (IST) Apr 08
RBI will engage in gradual, multi-year withdrawal of Rs 8.5 lakh crore excess liquidity in system: Governor Das
10:35 (IST) Apr 08
RBI will continue to adopt nuanced, nimble approach to liquidity management while ensuring adequate liquidity in system: Das
10:35 (IST) Apr 08
Expected benefits from ebbing of Omicron wave offset by escalation in geopolitical tensions: RBI Guv
10:35 (IST) Apr 08
Indian economy is steadily reviving from pandemic-induced slowdown, says Das
10:35 (IST) Apr 08
War could impede economic recovery; RBI cuts growth projection to 7.2 per cent for FY23: Governor Das
10:24 (IST) Apr 08
RBI governor Shaktikanta Das says central bank will focus on "withdrawal of accommodation" to control inflation.
10:23 (IST) Apr 08
For Q1, inflation projected at 6.3%, Q2 at 5%, Q3 at 5.4%, Q4 at 5.1%. For the year, inflation is projected at 5.7%: Das
10:21 (IST) Apr 08
Inflation for 2022-23 projected at 5.7%: Das
10:18 (IST) Apr 08
Geopolitical tensions have clouded inflation outlook: Das
10:16 (IST) Apr 08
Supply disruptions have rattled commodity and financial markets: Das
10:15 (IST) Apr 08
Business confidence is supportive of revival of economic activity: Das
10:12 (IST) Apr 08
External developments have resulted in upside risks to inflation projections: Das
10:11 (IST) Apr 08
Global economy is seeing a sharp rise in inflation. Input cost pressures are expected to linger longer: Das