Produced by: Prashanti Moktan Designed by: Mohsin Shaikh
RBI Governor Shaktikanta Das will announce the monetary policy committee’s decision at 10 am today (December 8) and all eyes are on the outcome for the repo rate and FY24 GDP forecast. Repo rate is expected to remain unchanged while RBI may revise its GDP forecast, as per experts
"As the Reserve Bank of India is expected to maintain a cautious and potentially hawkish stance in the current financial year, impacting both home loans and personal loans, it underscores a prudent approach to managing inflationary pressures. While this caution may pose challenges in the short term, it's crucial to recognize that the RBI's commitment to keeping interest rates unchanged provides stability to the entire lending landscape, instilling confidence among borrowers. This approach, though more evident in its impact on personal loans, is considered a temporary measure. Looking ahead to the next financial year, there is optimism that the RBI's measures will contribute to a more favourable lending environment, with expectations of home loans outpacing personal loans,” said Kaushik Mehta, Founder & CEO, RUloans Distribution Services
Business Today will host the 20th edition of BT Most Powerful Women today (December 8) at Taj Lands End in Mumbai, followed by the BT MPW 2023 Awards. From Guest of Honour SEBI Chairperson Madhabi Puri Buch, M&A Queen Zia Mody to ace business leaders Ananya Birla and Nandini Piramal, showbiz trailblazers The Archies director Zoya Akhtar, Jawan actor Nayanthara and more, get set for power-packed sessions by women leaders who inspire millions
Accent Microcell IPO is set to open for subscription today (December 8) and will close on Dec 12. The issue comes at a price band of Rs 133 to Rs 140 per share. Accent Microcell shares will list on the NSE SME with the tentative listing date of December 15
“After a seven-day winning streak, benchmark indices experienced a decline in the midst of heightened volatility. Upon closing, the Sensex recorded a decrease of 132.04 points or 0.19 percent, settling at 69,521.69, while the Nifty saw a decline of 36.50 points or 0.17 percent, closing at 20,901.20,” said Shrey Jain, Founder and CEO, SAS Online
"The market took a breather, the investors are in a wait-and-watch mode ahead of the monetary policy announcement. A better-than-estimated Q2 GDP growth, ease in global oil prices and drop in global bond yield will be the silver lining for the MPC. However, the expectation of a rise in domestic November inflation, drop in Rabi cultivation and increase in foodgrain prices will influence RBI to adopt a cautious approach in the short-term," said Vinod Nair, Head of Research at Geojit Financial Services
"The Nifty remained sideways during the session, hovering within the bands of 20,850-20,950. Sentiment remains somewhat cautious ahead of the RBI policy meet. The near-term trend remains sideways to weak as long as it stays below 21,000, a psychologically crucial level. A decisive breakout above 21,000 might induce a resumption of the uptrend. Until then, we anticipate weakness over the near term,” said Rupak De, Senior Technical analyst at LKP Securities
"The Bank Nifty index exhibited sideways momentum in the session preceding the RBI policy announcement. The lower-end support for the index is situated at 46,500-46,400, and as long as it maintains levels above this zone, the stance remains in a buy-on-dip mode. Immediate resistance on the upside is identified at 47,000, and a decisive breakthrough at this level is anticipated to propel the index further upwards towards the 47,500 mark,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
Zoram People's Movement (ZPM) leader Lalduhoma is set to be sworn in as the new Mizoram Chief Minister today (December 8). The former IPS officer-led party defeated the ruling party Mizo National Front (MNF) headed by Zoramthanga by winning 27 of the 40 seats during the Mizoram Assembly Elections
Public sector OMCs including BPCL, IOCL and HPCL revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Petrol and diesel prices remained stable today in major cities