Closing Bell: Sensex ends in the red, Nifty flat as Reliance Industries, HDFC twins, L&T drag

ZEEL, Sun Pharma rise over 4%, end as top gainers##ZEEL, Sun Pharma rise over 4%, end as top gainers

Closing Bell: Sensex ends mildly in the red, Nifty flat, midcaps outperform##Closing Bell: Sensex ends mildly in the red, Nifty flat, midcaps outperform

The Nifty settled almost 7 points up at 11,069.40 at close, while the Sensex was down by 4 points, closing at 36,971. The Nifty MidCap and BSE MidCap ended 0.74 percent up. Among shares, Zee Entertainment and Sun Pharma ended over 4 percent higher. Eicher Motors gained 3.5 percent and Bajaj Auto surged 3 percent. Grasim climbed almost 3 percent. JSW Steel, Reliance Industries, L&T, PowerGrid, HDFC stocks slipped lower, between 1 and 2.5 percent.

Grasim Q3 standalone net profit comes at Rs 608 crore##Grasim Q3 standalone net profit comes at Rs 608 crore

Vodafone Idea soars as profitability, ARPUs improve##Vodafone Idea soars as profitability, ARPUs improve

Shares of Vodafone Idea surged 9 percent backed by strong trading volumes, as a sequential improvement in the telecom major's profitability and average revenue per user in October-December, despite the prevailing competitive intensity, provided comfort to the Street. So far today, as many as 4,60,24,429 shares of the company have changed hands on the NSE, three times higher than the daily average volume of 9.86 million shares. Shares quoted at Rs 32.55, up by 8.5 percent on the NSE at 3.05 pm. 

Cadila Healthcare shares up 2% as net profit jumps 22% in Q3##Cadila Healthcare shares up 2% as net profit jumps 22% in Q3

Cadila Healthcare has reported 22 percent jump in its third quarter net profit at Rs 510.7 crore on the back better operating performance. Revenue for the quarter was up at Rs 3,578 crore against Rs 2,961.2 crore, QoQ. Stock quoted at Rs 324.35, up 2.01 percent on the NSE at 2.46 pm. The Nifty50 traded at 11,106.75, up by 43.65 points, or 0.39 percent. The Sensex added 141 points, or 0.38 percent, to trade at 37,116.70.

Reliance Communication's insolvency woes continue to hurt group companies##Reliance Communication's insolvency woes continue to hurt group companies

Shares of Anil Ambani-led group companies remained in a tight spot because of insolvency-related concern at Reliance Communications. Shares of Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Home Finance, and Reliance Power were down 4-28 percent and were the major laggards on Nifty 500. Reliance Communications has broken its support levels multiple times and is expected to break its next strong support level of Rs 2.5 by next week, a technical analyst said. Since Monday, shares of Reliance Communications has fallen 58 percent, while those of Reliance Infrastructure and Reliance Power have shed 60 percent and 66 percent, respectively. (Cogencis)

MRF Q3 EBITDA margin falls around 500 bps year-on-year##MRF Q3 EBITDA margin falls around 500 bps year-on-year

Gold falls to 1-week low on stronger dollar, but holds above $1,300 level##Gold falls to 1-week low on stronger dollar, but holds above $1,300 level

Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the spectre of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level. Spot gold fell 0.1 percent to $1,304.25 per ounce by 0730 GMT, after touching its lowest since Jan. 29 at $1,302.11. Prices fell 0.7 percent in the previous session in their biggest one-day drop since Jan. 18. U.S. gold futures were down 0.4 percent at $1,308.70. (Reuters)

RBI monetary policy: Here's why governor Shaktikanta Das cut repo rate today##RBI monetary policy: Here's why governor Shaktikanta Das cut repo rate today

According to the RBI governor Shaktikanta Das, one of the key reason behind the cut was the fall in the export growth in the last quarter. "Export growth was almost flat while import growth turned negative in December 2018," Das said.

Here are the other reasons

RBI bi-monthly monetary policy: Read the full text here##RBI bi-monthly monetary policy: Read the full text here

All six MPC members voted in favour of change in stance to "neutral", from 'calibrated tightening' while 4-2 voted in favour of a rate cut. The change in stance was expected by most experts and economists.

Here is the full text of MPC meeting

RBI-led Monetary Policy Committee voted 4:2 in favour of a 25 bps rate cut in February policy##RBI-led Monetary Policy Committee voted 4:2 in favour of a 25 bps rate cut in February policy

Rupee gains, bond yields fall after RBI cuts repo rate by 25 bps##Rupee gains, bond yields fall after RBI cuts repo rate by 25 bps

Indian rupee gained against the greenback on Thursday while bond yields declined, after the Reserve Bank of India (RBI) cut interest rates and changed its monetary policy stance to “neutral” from “calibrated tightening”. 

Read full report here

Auto companies gain as RBI cuts repo rate by 25 bps##Auto companies gain as RBI cuts repo rate by 25 bps

The Nifty Auto index extended gains as the RBI's Monetary Policy Committee cut repo rate by 25 basis points to 6.25 percent and changed its stance to "neutral" from "calibrated tightening". Automobile companies will benefit from the move as financing will be available at cheaper rates, thereby boosting sales. The Nifty Auto index was up 1.74 percent at 12.30 pm. Shares of Ashok Leyland, Tata Motors, Bajaj Auto, Maruti Suzuki India, Mahindra & Mahindra, Hero MotoCorp, and Eicher Motors traded 1-5 percent higher. 

Decisions of MPC on Policy rates will be data driven: RBI Governor##Decisions of MPC on Policy rates will be data driven: RBI Governor

RBI cuts repo rate by 25 bps from 6.50% to 6.25%##RBI cuts repo rate by 25 bps from 6.50% to 6.25%

RBI MPC meet outcome: RBI has cut the repo rate by 25 basis points to 6.25%. The monetary policy regulator has also changed the stance to neutral from its previous "calibrated tightening."

Also, catch all the action and updates in our RBI policy meet outcome live blog.