Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices ended today's session on a negative note after the Reserve Bank of India's monetary policy outcome.

The central bank retained its real GDP forecast at 9.5% for the fiscal 2022 but revised the inflation forecast upwards to 5.7% from 5.1% for the same period.

At the closing bell, the BSE Sensex stood lower by 215 points (down 0.4%).

Meanwhile, the NSE Nifty closed lower by 56 points (down 0.4%).

IndusInd Bank and Adani Ports were among the top gainers today.

Cipla and Reliance Industries, on the other hand, were among the top losers today.

The SGX Nifty was trading at 16,270, down by 41 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.2% and 0.3%, respectively.

Sectoral indices ended on a mixed note with stocks in the energy sector, realty sector and metal sector witnessing most of the selling pressure.

Telecom stocks, on the other hand, witnessed buying interest.

Shares of Tata Chemicals and Tech Mahindra hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng and the Shanghai Composite ended the day down by 0.1% and 0.2%, respectively.

The Nikkei ended up by 0.3% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading up by 13 points.

The rupee is trading at 74.16 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 47,473 per 10 grams.

In news from the automobiles sector, Mahindra & Mahindra was among the top buzzing stocks today.

Mahindra & Mahindra's (M&M) net profit before exceptional items surged to Rs 9.3 bn in June quarter from Rs 390 m in the same period last year.

The company's net profit after adjusting for exceptional items was Rs 8.6 bn in the first quarter of the year 2022 against Rs 680 m in the previous fiscal.

Revenue rose by 110% to Rs 117.6 bn from Rs 55.9 bn reported in the last year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 185% to Rs 16.3 bn in the first quarter from Rs 5.7 bn reported in the same period last year.

Total vehicles sold aggregated to 85,858 units during the April - June quarter, up by 190% from 29,619 units sold in the same period last year.

Total tractors sold rose by 52% to 99,127 units from 65,195 units.

Its operating margin was at 13.9% despite Covid challenges and commodity price increases.

The company continued to focus on cost optimization and operating leverage helped maintain margins.

M&M's farm equipment sector (FES) delivered its highest ever first quarter profit before interest and taxes (PBIT) of Rs 10.8 bn in quarter one of the year 2022.

It recorded revenue of Rs 53.2 bn during the quarter. FES international subsidiaries record fourth successive quarter of PBIT.

The tractor industry witnessed strong demand growth (39%) during the quarter. The growth in company's volume (48%) led to highest domestic market share in 8 quarters (41.8%)

M&M's auto business continues to witness strong booking pipeline and its market share has increased compared to March 2021 quarter.

Mahindra & Mahindra share price ended the day down by 0.6% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

Moving on to news from the macroeconomic space...

Growth Projection Unchanged at 9.5%, Inflation Revised Upwards for 2022

The Reserve Bank of India (RBI) Governor Shaktikanta Das, in his speech on the Monetary Policy today, said that the projected gross domestic product (GDP) growth for the financial year 2022 will remain unchanged at 9.5%.

The projected inflation for the same year has been revised upwards to 5.7%.

The governor also said that there has been encouraging movement in high frequency indicators. This implies that the economy is on the road of recovery.

India's retail inflation has been beyond the RBI's tolerance band for the past two months.

However, price pressures should ebb in the third quarter.

RBI Governor, Mr Shaktikanta Das said,

• The current assessment is that the inflationary pressures during April - June quarter of 2022 are largely driven by adverse supply shocks which are expected to be transitory.

In his speech, the governor stated that the economy is recovering from the setback of the second wave of the Covid pandemic.

He suggested that economic activity will pick up on vaccination. The July round of consumer confidence survey, returned optimism from a year ago, he added.

The RBI's Monetary Policy's decision at having an accommodative stance is aimed at prioritising growth and addressing distress in the economy.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.