- The Nifty 50 and Sensex are anticipated to open Friday’s session higher.
- On October 6, MPC will announce the results of its three-day, bimonthly discussions.
- Tata Motors shares are trading 0.51% higher at Rs. 622.75 on the NSE.
Despite conflicting global market movements, the Nifty 50 and Sensex are anticipated to open Friday’s session higher. Before the opening bell on Dalal Street, GIFT Nifty futures were up 43 points or 0.22 percent at 19,608 at the latest count.
On October 6, 2023, at 10 a.m., the Monetary Policy Committee (MPC), chaired by RBI Governor Shaktikanta Das, will announce the results of its three-day, bimonthly discussions. The vast majority of analysts anticipate that the MPC, the RBI’s rate-setting panel, would maintain the repo rate at its current level.
Stock Market
Following the company’s approval of a Rs 10,000 crore fundraising effort, shares of leading NBFC Bajaj Finance are trading 3% higher at Rs 8,085 on the BSE.
The board of Bajaj Finance authorized collecting funds through qualified institutional placements (QIP) for an amount of Rs 8,800 crore by issuing equity shares with a face value of Rs 2.
In this special Pick of the Day segment, market analysts Rakesh Bansal, Sacchitanand Uttekar, Kunal Saraogi, Siddharth Sedani, and Rajesh Malviya discuss their top picks for the day in conversation with Zee Business Managing Editor Anil Singhvi.
A day after the firm disclosed that it had gained provisional permission from the US FDA for Tolvaptan tablets to be marketed as a generic version of Jynarque® tablets, Lupin shares, a significant player in the global pharmaceutical industry, edge up to trade at Rs 1,152.85, up 0.38 percent.
Rate-sensitive stocks, including those in banking, financial services, real estate, and consumer durables, traded higher on Friday, October 6, after the Reserve Bank of India (RBI) held the interest rate steady at 6.5%.
As retail sales, including those from the Chery Jaguar Land Rover China JV, increased 21% YoY to 106,561 units during the July-September quarter (Q2FY24), Tata Motors shares are trading 0.51% higher at Rs. 622.75 on the NSE. Following the announcement of the jewelry retailer’s Q2 business update, shares of Kalyan Jewellers India increased over 4% to Rs 244.15 on the BSE.
Anil Singhvi, managing editor of Zee Business, predicts that on Friday, October 6, when the RBI is expected to announce a significant decision on benchmark interest rates following three days of back-to-back deliberations at its all-knowing Monetary Policy Committee (MPC), support for the headline Nifty index will emerge at 19,485-19,525 levels and a strong buy zone at 19,340-19,435 levels.
