&w=3840&q=100)
Sensex trapped in 1,000-pt range ahead of RBI policy; strategy this week
Weekly Market Outlook: The BSE Sensex may trade in the 80,600 - 82,300 range this week, the BSE benchmark could surge to 83,770 levels in June; suggests technical chart.
Rex Cano Mumbai
Listen to This Article
The Bombay Stock Exchange (BSE) Sensex consolidated in a tight range last week, broadly between 81,000 - 82,000, as bulls and bears fought an intense battle amid the BSE and National Stock Exchange (NSE) monthly futures & options expiries. This week, the market will react to Q4 Gross Domestic Production (GDP) numbers announced on Friday after market hours, and the upcoming Reserve Bank of India (RBI) monetary policy outcome on June 06. According to a Business Standard poll, the six-member monetary policy committee (MPC) of the RBI is expected to cut the repo rate by 25 basis points
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
42 minutes ago
- New Indian Express
Realty shares zoom ahead of RBI monetary policy decision
Real estate stocks jumped as much as 10% on Thursday in anticipation of the RBI's Monetary Policy Committee (MPC) decision, scheduled for Friday. Market expectations are tilted toward a 25-basis-point repo rate cut, along with a continued accommodative stance—a positive signal for rate-sensitive sectors like real estate. The Nifty Realty index was the top-performing sectoral index on Thursday, climbing up to 2% in intraday trade before settling 1.75% higher. Since May 9, the realty index has surged more than 20%, outpacing the 3% gain made by the benchmark Nifty50 index. Meanwhile, India's equity market extended gains on Thursday as the BSE Sensex surged 443.79 points or 0.55% to close at 81,442.04, and the NSE Nifty50 advanced 130.70 points or 0.53% to settle at 24,750.90. Investors demonstrated robust demand for real estate stocks in anticipation of the RBI's upcoming policy decision on Friday. Market experts widely expect a 25-basis-point reduction in the repo rate -marking the third consecutive cut - as inflationary pressures ease. A small fraction also hopes the RBI goes for a 50 bps rate cut after retail inflation dropped to 3.16% in April, giving the central bank wider flexibility to prioritize economic expansion.
Mint
an hour ago
- Mint
Bajaj Finserv promoters to sell up to 1.9% stake worth ₹5,828 cr via block deal
Jamnalal Sons Pvt. Ltd and Bajaj Holdings & Investment Ltd, both part of Bajaj Finserv Ltd's promoter group, are slated to offload up to 31 million shares, representing a 1.9% stake in the company, via block deals, according to the term sheet of the transaction. Bajaj Finserv Ltd is the holding company for the financial services businesses of the Bajaj Group. As of March 2025, promoter entities held approximately 60.64% stake in the company, as per the shareholding data on BSE. The document showed that the base deal is worth ₹ 4,750 crore with an option to increase the transaction by ₹ 1,078 crore, which allows the sellers to sell extra shares if there is strong demand. The indicative floor price for this deal is set at ₹ 1,880 per equity share, which implies a 3.3% discount to Thursday's closing price of ₹ 1,943.50 on the BSE, as per the term sheet. Kotak Securities is handling the transaction. Bajaj Finserv Ltd reported a 14% year-on-year rise in consolidated net profit to ₹ 2,417 crore for the quarter ended March 2025. Total consolidated income for the quarter grew to ₹ 35,596 crore, compared to ₹ 32,042 crore in the January–March quarter of the previous fiscal. According to a 5 May report by Mirae Asset Sharekhan, Bajaj Finance's earnings growth was healthy (in-line) at 19% year on year, but the management has revised guidance for FY26 slightly on the lower side with respect to the return ratio and assets under management growth. The brokerage believes strong growth visibility in the lending business and a healthy medium to long-term outlook for both insurance businesses could act as a positive trigger for strong consolidated earnings going forward. Moreover, scaling up of the new business would further support performance, which has not been factored in the brokerage's valuation. Mirae Asset Sharekhan has a 'buy' rating on the stock with a target price of ₹ 2,350. Kotak Institutional Equities also remains positive about Bajaj Finserv's ability to steer business to gain market share and profitability. 'With a complete stake in the insurance ventures at the group and the group's star CEO, Rajeev Jain, joining the Board (though in a non-executive capacity), we expect the transformation exercise at group companies to gather momentum,' highlighted the Kotak report dated 1 May. That said, any decline in the performance of its subsidiaries could weigh on the company's earnings growth and overall profitability. The recent rebound in Indian equities, after correcting more than 10% from its peak, has reignited institutional interest in block deals, according to experts. These large trades are gaining momentum once again, providing a fillip to India's equity capital markets at a time when IPO activity remains subdued and market volatility persists. As reported by Mint, institutional investors lined up four block deals worth nearly ₹ 3,500 crore on 4 June.
Time of India
an hour ago
- Time of India
CtrlS Datacenters to power BSE's critical digital infrastructure
CtrlS Datacenters to power BSE's critical digital infrastructure HYDERABAD: CtrlS Datacenters Ltd has entered a strategic partnership with the Bombay Stock Exchange (BSE) to power critical data centre infrastructure for the premier financial institution that caters to over 11 crore investors and processes over 700 crore daily transactions. With trading transitioning to electronic platforms, reliable digital infrastructure has become essential for maintaining market integrity, ensuring transaction security, and providing seamless access to financial services. The strategic collaboration underscores the critical role data centres play in modern financial markets, CtrlS said. Stressing on the need for world-class technology that is capable of supporting critical transactions, BSE CEO and managing director Sundararaman Ramamurthy said data centre infrastructure is crucial for stock exchanges. 'The shift to electronic trading has been a significant factor in the stock exchanges' use of data centres.' CtrlS Datacenters founder & CEO Sridhar Pinnapureddy said: 'The scale and criticality of BSE's operations represent not just a technological challenge, but a responsibility to India's economic sovereignty and growth.' 'Every transaction processed through our infrastructure impacts investors, businesses, and ultimately, the nation's financial health. We have engineered our solutions to deliver uncompromising reliability, microsecond-level performance, and ironclad security that BSE's operations demand,' he added. Set up in 1875, BSE is Asia's first and largest stock exchange. It is ranked the sixth largest globally by market capitalisation of around Rs 400 lakh crores (US$4.6 trillion approx) across over 5,500 listed companies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
