Markets Slip Back Into Red As RBI Maintains Key Rates

DSIJ Intelligence / 18 Dec 2012

At this hour of trade, the markets have turned their direction and moved into the negatives, after the RBI announced maintaining status quo in its mid-quarter policy review and kept the repo, reverse repo and CRR rates unchanged.

The Indian markets opened their first trades in the positive territory. At this hour of trade, however, the markets have turned their direction and moved into the negatives, after the RBI announced maintaining status quo in its mid-quarter policy review and kept the repo, reverse repo and CRR rates unchanged.

Among the sectoral indices, Auto, Capital Goods and Consumer Durables are trading higher in the positive territory. On the other hand, Bankex, Oil & Gas and Metals are lower in the range of 0.1%-0.4%.

Benchmark Indices
IndexRate% change
Hang Seng 22554 0.18
Nikkei 9955 1.27
Shanghai 2176 0.72
SENSEX 19165 -0.41
NIFTY 5826 -0.53
The other Asian markets are also trading in the green zone, with the Hang Seng and Shanghai Composite up 0.18% and 0.72% respectively. The Japanese Nikkei is trading higher by 1.27% at 9955. According to Bloomberg reports, the Japanese shares rose, with the Nikkei 225 Stock Average extending an eight-month high, amid optimism that the central bank will ease policy after the election, and on signs of the US budget talks progressing.

Back home, Bharti Airtel is the leading index gainer, up% at Rs 308.50 per share. Investors are seeing a buying opportunity in the stock after it was beaten down heavily in the past few trading sessions. Auto majors like Tata Motors, M&M, Hero MotoCorp and Bajaj Auto are among the stocks which are trading higher. Others like Tata Steel, Sterlite Industries, HUL and Tata Power are marginally in the green zone.

Hindalco is the worst performing stock, down 0.81% at Rs 123 per share. ONGC, ICICI Bank, HDFC Bank and RIL are among the stocks that are trading lower.

The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1235 shares have advanced, 993 shares have declined and 113 shares are unchanged.

We expect the markets to remain volatile for the day.

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