Indian markets await RBI monetary policy decision; Rates are likely to
remain steady
The
Reserve Bank of India's Monetary Policy Committee will announce its decision on
the repo rate on Wednesday amid heightened trade tensions. A poll of economists
project that the rates would be held steady. In the meanwhile, the GIFT Nifty
is down 50.5 points or 0.2% at 24,689 in the morning, indicating a lower open
for the benchmark Nifty 50. Earlier, in the morning, Donald Trump backtracked
over percentage of tariff on countries buying Russian oil. Both US and European
benchmark index futures contracts were little changed suring Asian trading
hours early Wednesday.
Asian
stocks struggled for direction at the open after weakening US services data
fueled uncertainty about the Federal Reserve’s policy path. The Nikkei was flat
while shares in South Korea declined and those in Australia rose. The broader
MSCI Asia Pacific Index rose 0.2%. In Indian markets, Foreign portfolio
investors stayed net sellers of Indian shares on Tuesday and sold stocks worth
approximately Rs 22.5 crore for the 12th straight session, according to
provisional data from the National Stock Exchange.
Fundamental Update
- Gland Pharma - Q1FY26 (YoY) Revenue up 7.4% to Rs
1,505.60 crore versus Rs 1,401.70 crore. Ebitda up 39% to Rs 367.60 crore versus
Rs 264.30 crore. Positive
- Raymond Realty - Q1FY26 (YoY) Revenue at Rs 374.35
crore versus Rs 129.68 crore. Ebitda up 35% to Rs 23.68 crore versus Rs 17.52
crore. Positive
- Bharti Airtel - Q1FY26 (QoQ) Revenue up 3.3% to Rs
49,462.00 crore versus Rs 47,876.00 crore. Ebitda up 3% to Rs 27,838.10 crore
versus Rs 27,008.60 crore. Positive
- Torrent Power - Q1FY26 (YoY) Revenue down 12.5% to
Rs 7,906.37 crore versus Rs 9,033.73 crore. Ebitda down 20% to Rs 1,483.06
crore versus Rs 1,857.93 crore. Negative
Technical Update
- NIFTY – Nifty could not hold gains over
24,700 and retreated to 24,649 on Tuesday. Index remained under pressure due to
Trump’s tariff rhetoric. Support is 24,550 while 24,800 is resistance.
- BANKNIFTY – Bank nifty continued downside
journey albeit slowly to settle at 55,319 on Tuesday. Index remained under
pressure on account of heavy selling of private lenders. Today’s range – 55,000
– 55,650.
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in analysis or views obtained from the use of information contained in this
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