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Rate-sensitive stocks rise ahead of RBI policy decision

06 April, 2018, 18:26 | Author: Kristi Dunn
  • Sensex rises over 400 points Nifty at 10,264 ahead of RBI policy meeting global cues support sentiment

The Sensex was down by 351.56 points or 1.05 per cent at the Wednesday's closing.

The BSE Sensex took off on a positive note at 33,289.96 and advanced to the day's high of 33,637.46 before ending at 33,596.80, up 577.73 points, or 1.75 per cent. The reverse repo rate, at which it borrows from banks and absorbs excess liquidity, will remain at 5.75 per cent The 30-share index, which had gained almost 400 points in opening trade, made further headway to quote 526.62 points, or 1.59 per cent, higher at 33,545.69 at 1440 hours.

Besides, positive cues from the global markets, along with healthy buying in banks, metals and auto stocks, pushed the BSE Sensex over 500 points and the NSE Nifty50 nearly 200 points higher.

Meanwhile, domestic institutional investors (DIIs) bought equities to the tune of Rs 615.28 crore yesterday, while foreign portfolio investors (FPIs) net sold shares worth Rs 108.02 crore, according to provisional data.

Positive global cues on fading trade war worries too supported the upward move.

"Focus has shifted to earnings growth which is at an early stage of revival".

Cynthia Nixon supports legalization of marijuana: 'Let's capture some of that revenue'
Nixon also addressed the tragic shooting and death of an unarmed African-American man, Stephon Clark. Williams managed to ask Nixon why she was not a fan of the Sex and the City 2 scene when Mr.

The rate-sensitive auto index ended 1.76 per cent higher, with Hero MotoCorp, Tata Motors, M&M, Maruti Suzuki and Bajaj Auto rising by up to 3.11 per cent.

The losers were Cipla and Bharti Airtel. The BSE Mid-Cap and Small-Cap indices were dwon 0.92 per cent and 1.01 per cent, faring better than the Sensex.

The BSE realty index jumped to 2.55, up 2281.32 %.

The financial sector has also been stunned by a massive $2 billion fraud in state-run Punjab National Bank that has implications on several other lenders. France's CAC 40 lost 0.6 percent to 5,246.95 and Germany's DAX shed 0.8 percent to 12,207.37.

Elsewhere in Asia, Japan's Nikkei was up 1.63 per cent, while Hong Kong and Shanghai markets were shut today for a public holiday today.

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