Markets Shoot Up

The Indian markets swung uphill after the RBI announced a reduction in the repo rate and cash reserve ratio by 25 basis points each at its policy meet today. The Nifty is trading firmly up by 20 points at 6095 and Sensex is up by 33 points at 20,136. Both indices are trading down in the range of 0.17%-0.31%.

On the NSE, 700 shares are trading in green and 671 shares are trading in the red.

Top 5 NSE Gainers: Axis Bank is the leading performer on the NSE, trading with gains of 5.11%, followed by Jaiprakash Associates, ICICI Bank, Sesa Goa and Tata Motors.

Top 5 NSE Losers: HDFC Bank is the strongest losers, down by 1.57%. Bharat Petroleum, Ranbaxy, Reliance Industries and ONGC are the others in the list.

Interest rate-sensitive sectors such as Bankex, Realty and Auto are trading firm between 0.40%-0.90% at this hour of trade. On the other side, Oil & Gas and CD are trading in the red.

The Asian peers continue to see mixed trades. Taiwan Weighted, KOSPI, Shanghai Composite and Nikkei 225 are higher by 0.39%-1.12%, while Straits Times and Hang Seng are in the negative zone.

Buzzers: Sobha Developers has hit a fresh 52-week high on the back of heavy volumes, hitting a high of Rs 446.70 and a low of Rs 423 in today’s trade. The stock saw upward movement after the RBI’s interest rate announcement.

Axis Bank is the top performer of the day, extending its previous day’s gains to trade at Rs 1483. The stock moved up after the bank announced launching a Rs 5500 crore share issue.

The Nifty touched a fresh 52-week high after the RBI policy announcement, but was not able to sustain above the 6100 levels.