Share Market HIGHLIGHTS: Nifty 50 almost makes it to 17,600, Sensex rises 144 pts as RBIs surprise s – Zee Business

Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended gains to the fifth session in a row on Thursday, April 6, as the RBI’s decision to hold the key lending rate at the exiting 6.5 per cent surprised Dalal Street. RBI Governor Shaktikanta Das maintained the policy stance at ‘ withdrawal of accommodation’ but warned of more hikes to tame inflation, as he reiterated the MPC’s commitment to tame red-hot inflation. 
A majority of interest-rate sensitive stocks rose after the RBI’s surprise status quo on key rates, with the Nifty Realty — whose 10 constituents include some of the top property developers in the country such as DLF, Godrej Properties and Lodha — rising 2.8 per cent for the day. 
The Nifty Bank — whose 12 member stocks include SBI, HDFC Bank and ICICI Bank — finished the day with a gain of 41.9 points or 0.1 per cent at 41,041, having gyrated in a range of more than 450 points around the flatline in intraday trade. 
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As many as 2,349 stocks are up and 1,137 down on BSE less than 15 minutes from the closing bell. 

As many as 29 stocks are in green territory. Here’s a look at the heatmap in the 50-scrip universe:

Both headline indices finish the day with gains of 0.2 per cent, after the RBI’s decision to keep the key lending rate and its policy stance on hold after three-day-long, bi-monthly deliberations sent positive signals to Dalal Street.
The Nifty50 settles with a gain of 42.1 points at 17,599.2, after broadly gyrating in the 17,500-17,650 band during the session. 
The Sensex finishes the day 143.7 points higher at 59,833, having recovered more than 300 points from the weakest level of the day.
Here’s how the gauges moved through the day: 

Image: NSE

Image: BSE
This marks the first pause in the repo rate — the key lending rate at which it lends money to commercial banks — since May 2022, when the central bank announced the first hike in the post-COVID era. 
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Image: BSE
Himanshu Gupta of Globe Capital Markets recommends buying the Rs 160 call of AB Capital futures at Rs 3.5 for a target of Rs 6 with a stop loss at Rs 2.
 
Himanshu Gupta of Globe Capital Markets recommends buying the 17,600 weekly (April 13) call option of Nifty Bank on dips to Rs 100-110-odd levels for targets of Rs 160 and Rs 190 with a stop loss at Rs 85. 
He is referring to chasing the call, currently in the money, on an at-the-money basis. 
Vedanta shares are holding on to the green, quoting higher by Rs 3.9 or 1.5 per cent at Rs 269.7 apiece on BSE at this hour, trading ex-dividend. 
Earlier in the day, the Vedanta stock gained as much as 2.5 per cent to Rs 272.5 apiece. 
Late last month, the billionaire Anil Agarwal-led mining giant announced a 2,050 per cent dividend for its shareholders. 
All members of the MPC voted in favour of the status quo, announced earlier in the day:
Market veteran Ajay Bagga tells Zee Business that the RBI’s latest projections on consumer inflation and GDP growth in the country are “over-optimistic”. 
RBI estimates consumer inflation at 5.2 per cent and GDP growth at 6.5 per cent in the current financial year. Check out RBI’s latest quarterly projections
 
The real estate index is up 0.9 per cent about 40 minutes into the RBI’s surprise rate action, having fully recovered weakness ahead of the event. The gauge had slipped as much as 0.4 per cent below the flatline within the first hour of trade today. 
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