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#870 Daily Money Show — Stock Market News
Original: #870 Daily Money Show | Money Purse Stock Market News
Takeaway
RBI's UPI ₹5L tax limit, faster cheque clearance and Reliance's job cuts dominate; BSE entering gold/silver F&O is a structural threat to MCX.
Summary
- Sensex -581 to 78,886; Nifty -180 to 24,170; mid -0.41%, small -0.28%, Bank Nifty flat
- RBI MPC: rates unchanged; FY25 inflation projected 4.5%, GDP growth 7.2%; UPI tax payment limit raised from ₹1L to ₹5L; cheque clearance now within hours
- Reliance cut 11% workforce in FY24 (~42,000 jobs) due to retail store closures, digital efficiencies
- BSE planning to launch gold/silver futures & options — positive for BSE, negative for MCX
- Kavach 4.0 approved — bulk tenders for 10,000 locomotives each coming; Karnex Microsystems, HBL Power positive
- Other: Seagull IPO listed -3.73%; Goldiam International got $50cr US order; Nazara acquired Fusebox Games (UK) for $27.2M; Suzlon saw 32M shares in block deals
RBI MPCBSE-MCXKavach
Original description
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