Morgan Stanley on Wednesday said that in terms of policy response, it sees the likelihood of another rate cut by the RBI in Q4 (likely in October policy) amid headwinds from tariff-related developments.

India's installed solar PV module manufacturing capacity has reached 91.6 GW, according to the approved list of models and manufacturers (ALMM), the Parliament was informed on Wednesday.

There are more than 1,700 global capabilities centres (GCCs) currently operating in India, employing more than 19 lakh people, the Parliament was informed on Wednesday.

The total revenue generated by these GCCs in last 5 years has grown from $40.4 billion in FY19 to $64.6 billion in FY24 with CAGR of 9.8 per cent, Jitin Prasada, Minister of State of Electronics and Information technology, said in a written reply in Lok Sabha, citing National Association of Software and Services Companies (Nasscom) data.

GCCs have grown from being support centres for basic tasks to research and development and design hubs, the minister said. Together, these GCCs employ more than 19 lakh people in the country.

Shares of National Securities Depository Ltd (NSDL) debuted on the Bombay Stock Exchange (BSE) on Wednesday at Rs 880, reflecting a 10 per cent premium, or Rs 80 above the issue price of Rs 800 per share. NSDL's IPO share listing fell short of expectations in the grey market, which had anticipated that the scrips would be listed at a premium of around 16 per cent.

Shortly after listing, the stock reached an intraday high of Rs 920. As of 11.45 A.M., NSDL shares were trading at Rs 913.65, up 33 points or 3.82 per cent from its listing price.

The Rs 4,012 crore IPO saw strong participation from all investor categories. The overall issue was subscribed 41.02 times. Qualified Institutional Buyers (QIBs) led the subscription, oversubscribing 103.97 times, followed by Non-Institutional Investors (NIIs) at 34.98 times and retail investors at 7.76 times.

Following the Reserve Bank of India's (RBI) decision on Wednesday to maintain the repo rate at 5.50 per cent, the benchmark index Nifty 50 experienced a slight decline, falling below the 24,600 resistance level.

The Nifty 50 was trading at 24,569 as of 10.54 am, after an intraday decline of 0.33 per cent, while the Sensex stood at 80,473, down 0.29 per cent. Prior to the Monetary Policy Committee's decision, Nifty and Sensex were down 0.08 per cent and 0.07 per cent, respectively.

Apart from the monetary policy decision, the overarching influence on the market will be US President Donald Trump’s tariff announcements, according to experts.

The Nifty IT index extended its losses to a 1.57 per cent decline during the morning hours of trading. Nifty Pharma lost 1.26 per cent and Nifty Realty declined 2.26 per cent.

The RBI on Wednesday retained its forecast for India’s GDP growth at 6.5 per cent for FY 2025-26, despite global uncertainties, as it expects strong rural demand on the back of a good monsoon and robust government expenditure on big ticket infrastructure projects to propel growth.

RBI Governor Sanjay Malhotra said, “The above normal southwest monsoon, lower inflation, rising capacity utilization and congenial financial conditions continue to support domestic economic activity. The supportive monetary, regulatory and fiscal policies including robust government capital expenditure should also boost demand. The services sector is expected to remain buoyant, with sustained growth in construction and trade in the coming months.”

RBI Governor Sanjay Malhotra announced on Wednesday that the monetary policy committee has decided to keep the repo rate unchanged at 5.5 per cent, while sticking to the “neutral” monetary policy stance.

He said the decision was taken unanimously by the MPC after a detailed assessment of the macroeconomic situation and the growth-inflation dynamics.

A neutral stance requires neither stimulation nor curbs on liquidity as it strikes a fine balance between controlling inflation without hurting growth.

The RBI Governor said that inflation had come down to much lower levels there was still some volatility in food prices, especially vegetables. However, core inflation had remained steady at around 4 per cent.

The Indian equity benchmarks opened flat on Wednesday, ahead of the Reserve Bank of India (RBI) Monetary Policy Committee's decision. Sensex gained 64 points or 0.08 per cent at 80,774 while Nifty edged up 16 points or 0.07 per cent to 24,665.

Broad cap indices saw higher selling pressure. The Nifty midcap 100 index was down 0.54 per cent and Nifty smallcap 100 index slipped 0.64 per cent.

"Today’s monetary policy decision is unlikely to influence the market significantly. The overarching influence on the market will be US Donald Trump’s tantrums," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Torrent Power Limited on Tuesday reported a 24.7 per cent drop in its net profit for the first quarter of the current financial year (Q1 FY26), posting Rs 731 crore compared to Rs 972 crore in the same period previous year (Q1 FY25).

Gold and silver prices saw mixed movements in both domestic and foreign markets on Tuesday. The silver prices increased significantly while the price of the precious metal decreased slightly.