Stock market: After the RBI policy, there was a profit booking in the market today. The Sensex-Nifty is closed with a decline. The Nifty Bank has also closed down. Realty, auto and pharma have closed with a slight increase. Consumer durables and metal stocks increased. The Sensex fell 198 points to close at 77,860. At the same time, the Nifty fell 43 points to close at 23,560. The Nifty Bank fell 223 points to close at 50,159. The midcap climbed 108 points to close at 53,609. Today, 16 out of 30 shares of Sensex declined. 28 out of 50 shares of Nifty rose. 6 out of 12 shares of Nifty Bank declined. At the same time, the rupee strengthened 15 paise to close at Rs 87.43 per dollar.
How was the market this week
The market has closed with a slight increase in the second week in a row on a weekly basis. Sensex has risen 0.46 percent this week. At the same time, Nifty has closed down 0.33 per cent. The Nifty Bank has closed down by taking 1.32 per cent and the MIDCAP index 0.23 per cent. Talking about sectoral Idex, Nifty Pharma climbed 3.48 per cent, Nifty Metal 3.46 per cent and Nifty IT 2.12 per cent. Similarly, Nifty PVT Bank 2.04 percent, Nifty Auto 0.66 percent and Nifty Oil & Gas 0.58 percent. On the other hand Nifty FMCG has fallen 5.62 per cent, nifty realty 3.65 per cent, nifty energy 1.07 per cent and Nifty PSE 0.72 per cent.
How can market move ahead
Tanvi Gupta Jain of UBS Securities Said that the RBI has cut the repo rate by 25 basis points to promote growth. The RBI has said in its statement that domestic consumption is expected to be strong in recent Union Budget due to tax relief and softening in inflation. High capacitance is indicating utilization levels, strong business possibilities and increase in support investment of government policies. However, poor global signs are creating uncertainty about further possibilities.
Ajit Mishra of Railways Broking Says that the market continued to fluctuate and the index continued to close slightly below. Now when important events are left behind, the market will again focus on the results for further signals. The Nifty maintained its important support on 20 DEMAs. To move to 23,900, the Nifty will have to preserve the support of 20 DEMAs. If this does not happen, there may be a sideways movement. Meanwhile, traders should emphasize risk management and maintain stock-specific attitude.
Sudipta Roy of L&T Finance on RBI policy
Sudipta Roy, Managing Director and CEO of L&T Finance, said that this morning the decision to cut the policy rate by RBI by 25 basis points in the policy rate this morning is a good example of policy support for domestic growth. With record tax cuts in the budget last week, now the policy rate cut will increase credit growth in the economy. The RBI has taken the right decision by continuing its neutral stance, maintaining cash in the system, dealing with global problems and keeping its options open as needed. As usual, RBI has been ahead in focusing on consumer protection and reducing cyber risks. Announcement of a separate domain for the financial sector is a welcome step in this direction.
Market Outlook: Profit in the market after RBI policy, know how it can be on February 10
How can the rupee move
Anuj Chaudhary of Mirre Asset Sharekhan says that for the first time in five years, there was a jump in Indian rupee after cutting interest rates in five years. The RBI reduced the repo rate by 25 basis points to reduce it from 6.50 per cent to 6.25 per cent, which remained in accordance with the market expectations. Due to this, the markets did not react very sharply. The RBI Governor estimated India’s inflation 4.8 per cent and 4.2 per cent for FY 2025 and FY 2026. The US dollar index has softened due to data from disappointing weekly unemployment claims from the US.
In such a situation, it is expected that the rupee will trade with negative trends amid the demand for dollars from weak domestic markets and importers. The strategy of avoiding risk in global markets can also be overshadowed by Rs. However, any kind of intervention by RBI can support the rupee at lower levels. Trader can now monitor the US non-form payroll report. The USDINR spot price is expected to trade within a radius of Rs 87.20 to Rs 87.70.
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