News Details

( 07/12/2017 14:35)
Markets trade higher; Nifty firmly above 10,100

The key domestic benchmark indices were trading higher after Reserve Bank of India (RBI) kept its policy rate steady on Wednesday, as widely expected, after inflation accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus.

All eyes will now be on the forthcoming elections in Gujarat where various opinion polls suggest the ruling BJP and the Opposition party Congress are in a neck-to-neck race. The outcome may have implications on the government policies ahead.

Globally, European markets opened mixed, as investors monitored the prospect of a backlash from President Donald Trump's recognition of Jerusalem as Israel's capital.

The pan-European Stoxx 600 was flat shortly after the opening bell with most sectors and major bourses in pointing in opposite directions.

Back home, at 14:13 hours, BSE SENSEX was at 32843.22 up by 246.04 points or by 0.75 % and NSE Nifty was at 10128.75 up by 84.65 points or by 0.84 %.

The BSE Sensex touched intraday high of 32872.98 and intraday low of 32598.12. The NSE Nifty touched intraday high of 10134.65 and intraday low of 10061.9.

Meanwhile, the top gainers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1223.65,+2.82%), Bajaj Auto Ltd. (Rs. 3191.80,+2.68%), Maruti Suzuki India Ltd. (Rs. 8828.60,+2.65%), Tata Steel Ltd. (Rs. 684.55,+2.47%), Bharti Airtel Ltd. (Rs. 495.45,+2.38%), among others.

On the other hand, the top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 508.00,-0.69%), Coal India Ltd. (Rs. 263.30,-0.64%), Tata Consultancy Services Ltd. (Rs. 2617.35,-0.54%), Wipro Ltd. (Rs. 280.90,-0.50%), Cipla Ltd. (Rs. 592.70,-0.47%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2866 , shares advanced were 1841 while 880 shares declined and 145 were unchanged.

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