Nifty Ends On A High Note Ahead Of RBI Policy Meet

The Indian market gained momentum in the last hour of trade. This was led by buying in rate-sensitive sectors such as Auto, Real Estate and Banks ahead of the central bank’s monetary policy review meet next week. The Nifty closed up by 55 points at 6074 and Sensex closed 192 points higher at 20,115.

The advance-decline ratio ended on the positive side at the end of the day. On the NSE, 884 shares advanced and 550 shares declined.

Top 5 NSE Gainers: Jaiprakash Associates ended 5.01% higher as the top gainer, followed by Bank of Baroda, Reliance Infrastructure, Maruti Suzuki India and Jindal Steel and Power.

Top 5 NSE Losers: UltraTech Cement ended the day as the top loser, down by 1.80%. Tata Power, ACC, NTPC and Coal India were also in the negative.

Most of the sectors ended in positives. Realty and Auto were the highest gaining sectors with gains of 4.44%-2.22%.

In the Asian markets, Nikkei 225 and Straits Times ended with gains of 0.41%-2.80%. KOSPI has dipped by 0.91%, and Shanghai Composite, Taiwan Weighted and Hang Seng are all down in the range of 0.08%-0.91%.

The European markets are trading firm. DAX has gained 0.98%, CAC 40 is up 0.50% and FTSE 100 is up 0.13%.

Buzzers: Maruti Suzuki closed higher by 3.5% at Rs 1597 after the company reported a better-than-expected 144% year-on-year growth in its Q3FY12 net profits to touch Rs 501 crore due to higher sales and a favourable response to new models like Swift Dzire.

Uttam Galva Steel gained more than 18% in today’s trade, touching an intraday high of Rs 99 and a low of Rs 90.30. It witnessed a stunning jump in volume in today’s trades – where its previous day’s trading volume stood at 2,79,891, today’s volumes were at 13,641,66.

After profit booking in the last session, the Nifty witnessed a strong up-move in today’s trade. Going ahead, the 6105 level will pose a hurdle.