The SGX Nifty also indicated strong opening for the frontliners, rising 153 points to 10,283 on the Singapore Stock Exchange.

10:07 am Market Update: Benchmark indices remained strong as the Sensex was up 400.97 points or 1.21 percent at 33,420.04 and the Nifty gained 131.30 points or 1.30 percent at 10,259.70.

About 1,731 shares advanced against 292 declining shares on the BSE.

10:04 am Market Outlook: “We believe market is currently in consolidation phase and will look on development on trade tariffs and earning results of Q4 FY18 to take momentum from here. Having said that we believe, markets have strong resistance around current levels and valuation parameters for quality stocks look reasonable,” Abhinav Gupta – President, Capital Markets – Share India Securities Ltd said in an interview to Moneycontrol.

9:57 am RBI Policy Expectations: Lakshmi Iyer, CIO- Debt & Head of Products, Kotak Mutual Fund said the upcoming MPC meeting holds significance in terms of the guidance the RBI has to offer. General market view is that of an extended pause. Market would also want to see the MPCs reaction to the recent axe in government borrowing program and its view on the fisc thereof.

Lastly, though our view is that of status quo, it would be interesting to see the MPCs accompanying stance in the light of moderation in CPI domestically and its reaction to the recent global developments.

9:52 am Buzzing: Indian Hotels Company share price rallied as much as 3.7 percent in morning after receiving extraordinary income from Newbury Owner LLC.

The international chain of hotels and resorts informed exchanges on Wednesday that pursuant to the Amendment Agreement entered into with Newbury Owner LLC, the IHMS (USA) LLC has received fees of about USD 6.91 million as an extraordinary income.

The extraordinary income is for modification of certain contractual terms.

Benchmark indices BSE Sensex and NSE’s Nifty surged over 1% in the opening trade on Thursday ahead of the Reserve Bank of India’s monetary policy decision due after 2.30pm. The central bank will keep interest rates unchanged in the first monetary policy review of the current fiscal year, amid a gradual recovery in growth and easing inflation, showed a Mint poll. Moreover, Asian shares gained, tracking US equities as investors hoped a full-blown trade war between Us and China can be averted, reported Reuters.

9.35 am IST
63 Moons Technologies shares fall 4%
63 Moons Technologies Ltd shares fell 3.7% to Rs97.25 after CNBC reported that EOW has freezed operational accounts of the company. EOW also written to competent authority to transfer revenue from ODIN software into escrow account

9.33 am IST
Smartlink Network Systems shares jump 14% on buyback proposal
Smartlink Network Systems Ltd shares rose 14% to Rs103 after the company said its board to meet on 7 April to consider buy back.

9.30 am IST
What to expect in RBI’s monetary policy today
The monetary policy committee of the Reserve Bank of India decides on repo rate today, amid falling inflation, softening bond yields and a government borrowing programme that kicks off on Friday. Mint takes a look at the background of the MPC meeting and the likely impact of changes in interest rates.

source: livemint.com

Market Live: Sensex jumps 400 pts ahead of RBI policy; all sectoral indices in the green