Stock Market Live: Nifty Above 24,600, Sensex Trades Flat Ahead Of RBI MPC; Pfizer, Pharma Stocks In Focus

All eyes will be on the Reserve Bank of India's Monetary Policy Committee as it is expected to retain the benchmark lending rate at 5.5%.

All eyes will be on the Reserve Bank of India's Monetary Policy Committee as it is expected to retain the benchmark lending rate at 5.5% (Image: Canva AI)

Today, all eyes will be on the Reserve Bank of India's Monetary Policy Committee as it is expected to retain the benchmark lending rate at 5.5%. The Central Bank is set to announce its decision today. There are also expectations of further rate cuts down the line. Out of the 37 economists polled by Bloomberg, 11 expect a status quo, while the rest expect a 25 basis point cut. The repo rate is currently at 5.5%.
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Stock Market Live: Nifty, Sensex Ahead Of MPC Meet

Here is a look at how the broader markets are holding up ahead of the RBI MPC meet.

Stock Market Live: Lupin Shares Lead Gains

Despite US President Trump's 100% tariff coming into effect today, the pharma stocks are trading in the green with Lupin leading the gains.

Lupin is trading over 3% higher at Rs 1,917 apiece on the NSE, outperforming the Nifty 50. The benchmark index is trading 0.33% higher as of 9:50 a.m.

Stock Market Live: All Eyes On RBO MPC Decision

As the Reserve Bank of India’s Monetary Policy Committee (MPC) concludes its meeting today, and the broad expectation is that the central bank will keep the repo rate unchanged for the second consecutive time. RBI Governor Sanjay Malhotra will announce the committe'd decision at 10 am.

Catch all the live updates below:

Also Read: RBI Monetary Policy Live Updates: Repo Rate Unchanged At 5.5%, Says Governor Sanjay Malhotra

Stock Market Live: Tata Motors Demerger Effective Today

The much-awaited demerger of Tata Motors is effective Wednesday, Oct. 1, with the auto giant set to split its commercial and passenger vehicle businesses.

The current entity, which is Tata Motors Ltd. will become the company's passenger vehicle arm, which will also house the company's electric vehicle operations and the Jaguar Land Rover business. It will be renamed Tata Motors Passenger Vehicles Ltd.

Read the full story below:

Also Read: Tata Motors Demerger Effective Today: What Changes And What Doesn't For Shareholders

Stock Market Live: Pharma Stocks Trade In The Green

Nifty Pharma is in focus today as Trump's 100% tariff will take effect. The index was trading over 1% higher. Most of the names like Lupin and Sun Phrama were trading with over 2% gains.

Names like Granules India, Laurus Labs and Auro Pharma were also trading in the the green.

Stock Market Live: Pfizer Share Price Surges

The shares of Pfizer rose over 5% during early trade on Wednesday to Rs 5,316 apiece on the NSE. These gains compare to a 0.10% advance in the Nifty 50 as of 9:24 a.m.

This surge in share price comes after Pfizer Inc., the US parent has secured a three-year reprieve from the tariffs on pharmaceutical imports imposed by US President Donald Trump.

Stock Market Live: Nifty Above 24,600, Sensex Sheds 130 Points

The Indian equity markets saw a mixed and tepid start ahead of the RBI's MPC meeting. The Nifty 50 opened above the 24,600 mark while Sensex saw a muted start.

Most of the sectoral indexes opened in the green with Nifty Pharma leading gains. Investors will be tracking Nifty Bank as the MPC decision is announced and the index has opened in red.

Stock Market News Live: Yield On 10-Year Bond Opens Flat

The yield on the 10-year bond opened flat at 6.56%

Source: Bloomberg

Rupee Vs Dollar Today: Rupee Opens Stronger Ahead Of MPC

Rupee opened 2 paise stronger at 88.77 against the US Dollar.

It closed at 88.79 on Wednesday.

Source: Bloomberg

Stock Market News Live: Shriram Finace Denies Stake Sale Report

Shriram Finance Ltd. on Tuesday denied any possibility of a stake sale in the company, in what was a direct response to media claims suggesting a 20% equity purchase from MUFG.

“With a view to prevent any misinformation and ensure full transparency, we hereby in good faith wish to clarify that the Company is not aware of any such potential majority stake sale of equity shares of the Company by any shareholder(s)," the company said in an exchange filing.

Also Read: Shriram Finance Denies Stake Sale Reports, Rejects MUFG Acquisition Talk

Stock Market News Live: Godrej Properties Gets Target Price Hike From CLSA

CLSA has maintained its 'outperform' rating on Godrej Properties Ltd., raising its price target to Rs 2,850 from Rs 2,770, citing closing on a strong quarter and strong growth with improving cash flows and margin.

The brokerage believes that, the low profitability overhang is getting addressed with improving cash flows and thus margin outlook.

CLSA noted, GPL's stock trades at a EV/ cash Ebitda of 8.4 times, compared to 12-18 times for Oberoi and Lodha, which the brokerage believes is unwarranted.

Read the full story below:

Also Read: Godrej Properties Gets Target Price Hike From CLSA—Details Inside

Stock Market News Live: What F&O Cues Indicate

  • Nifty October Futures down by 0.09% to 24,778 at a premium of 167 points.

  • Nifty October futures open interest up by 22%

  • Nifty Options 7 October Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24600

  • Securities in Ban Period: Sammaan Cap

Stock Market News Live: Gold Hits New High Ahead Of MPC

Gold prices today were trading at a new high of levels above the Rs 1,17,000 mark, ahead of the Reserve Bank of India's MPC.

The Central Bank is broadly expected to maintain the status and gold ahead of the decision has prices surged to a fresh high of Rs 1,17,350 per 10 gm, according to the India Bullion Co. The price surged by nearly Rs 1,000 compared to Rs 1,16,410 on Tuesday.

Read full story to check rates across India:

Also Read: Gold Price Hits New High Ahead Of RBI MPC Decision — Check Rates In Delhi, Mumbai, Other Cities

Stock Market News Live: Commodity Check

  • West Texas Intermediate crude fell 0.14% to $62.46 per barrel.

  • Spot gold was up 0.16% to $3,865 an ounce.

Stock Market News Live: US Markets

Overnight in the U.S., major indices eked out gains despite looming political risk. The Dow Jones rose about 0.2% to close at a record high, while the S&P 500 added roughly 0.4% and the Nasdaq Composite gained around 0.3%.

The mood was bolstered by easing fears of a damaging government shutdown.

Stock Market News Live: All Eyes On RBI's MPC

Today, all eyes will be on the Reserve Bank of India's Monetary Policy Committee as it is expected to retain the benchmark lending rate at 5.5%.

The Central Bank is set to announce its decision today. There are also expectations of further rate cuts down the line. Out of the 37 economists polled by Bloomberg, 11 expect a status quo, while the rest expect a 25 basis point cut. The repo rate is currently at 5.5%.

Also Read: RBI October MPC Preview: Status Quo Expected Amid Muted Inflation, Mounting External Headwinds

Stock Market News Live: GIFT Nifty Indicates Gap Down Start Ahead Of RBI MPC

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The GIFT Nifty was trading near 24,600 early Wednesday. The futures contract based on the benchmark Nifty 50 fell 0.31% at 24,611 as of 6:24 a.m. indicating a negative start for the Indian markets. The Nifty had ended in red for the eighth consecutive session on Tuesday, largely unchanged, after a volatile and choppy trade driven by monthly F&O expiry.

At the close, the Sensex slipped 97.32 points, or 0.12%, to 80,267.62, while the Nifty fell 23.80 points, or 0.10%, to 24,611.10. The Nifty rose as much as 0.39% during the day to 24,731.80, while the Sensex was also up 0.39% to 80,201.15.

Also Read: Stock Market Today: All You Need To Know Going Into Trade On Oct. 1

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WRITTEN BY
Ann Jacob
Ann Jacob tracks markets with a special focus on personal finance. She clos... more
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