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From Sensex, Nifty losing ground as investors book profits sparked by RBI’s shift in policy stance to Congress meeting Election Commission over Haryana Results, here are today’s top stories.
The Indian stock market resumed its downward trajectory, after a one-day hiatus, on Wednesday, October 9 as investors succumbed to profit-taking during the fag end of the session.
The benchmark indices began the session on a positive note and gained momentum after the RBI set the stage for possible rate cuts in the upcoming meetings. However, the momentum fizzled out amid selling in heavyweights like Reliance Industries, HDFC Bank, and ITC. READ MORE
Broadly in line with market expectations, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday, October 9, announced a status quo on repo rates but tweaked the policy stance to “neutral” from “withdrawal of accommodation”, while reiterating the risk of inflation.
The central bank retained FY25 GDP growth and inflation estimates. However, it highlighted the risk of sticky inflation, as it expects the September CPI to increase because of unfavourable base effects and a rise in fuel prices. READ MORE
Bangladesh have won the toss and decided to field first for the second T20I, which is being played at Delhi’s Arun Jaitley Stadium. READ MORE
Mainland China stocks plunged on Wednesday and were poised to snap a 10-day winning streak after officials failed to inspire confidence in stimulus plans intended to revive the economy.
Wednesday’s moves were a reversal from those seen the day before, after mainland Chinese stocks returned from a week-long holiday with a bang while those in Hong Kong stuttered. READ MORE
Ratan Tata, Veteran industrialist and Tata Sons Chairman Emeritus, is reportedly in critical condition at a Mumbai hospital.
Ratan Tata is in intensive care at a Mumbai hospital, reported Reuters on Wednesday quoting two sources with direct knowledge of the matter. READ MORE
Several Congress leaders met Election Commission of India’s officials on Wednesday to submit 20 complaints, which flagged issues with EVM machines and delay in counting for the Haryana Assembly Elections 2024. READ MORE
The Delhi Chief Minister’s Office (CMO) on Wednesday claimed that the “Delhi chief minister’s residence” at 6, Flagstaff Road in Civil Lines was forcibly vacated at the behest of the Bharatiya Janata Party. It was alleged that Lt Governor VK Saxena wants to allot it to a BJP leader. READ MORE