Markets Volatile, RBI Keeps Key Rates Unchanged
Suparna / 01 Apr 2014
The Indian markets opened on a positive note, but turned volatile as key benchmark indices slipped into red zone. The Reserve Bank of India (RBI) announced the first Bi-monthly Monetary Policy Statement keeping repo rate at 8%. The CRR is kept unchanged at 4%, while the Bank rate and MSF were also maintained at the level of 9%. Currently Nifty is trading down by 8 points at 6696 and the Sensex is down 18 points to trade at 22372.
Indian markets opened the second trading day on a positive note, but soon turned volatile. The Reserve Bank of India in its first bi-monthly Monetary Policy Statement maintained a status quo and kept the repo rate unchanged at 8%. At the current hour the Nifty index is trading lower by 8 points at 6696 and the Sensex is down by 18 points at 22372. Both indices are trading down in the range of 0.22%. Asian stocks stand firm.
The advance-decline ratio is on the positive side in the morning session. On the NSE, 1804 shares are trading in gains and 1553 shares are down.
Top Nifty Gainers: Power Grid Corp is the top gainer in today’s morning session and is up by 2.33%. It is followed by ONGC, HCL Tech, Wipro and TCS.
Top Nifty Losers: Hindalco is the top loser for today’s morning session and is trading lower by 2.86%. It is followed by Asian Paints, Coal India, IDFC and Ambuja Cements.
On the sectoral front, 8 out of 13 sectors are trading in the green. IT is the top gainer this morning session as it gained 119 points. It was followed by Oil & Gas and Consumer durable which were up by 89 points and 54 points respectively. Metals are top loser trading 112 points down. Mid-caps are trading with a negative bias down by 27 points and small cap is higher by 22 points, this morning.
Global Market witnessed positive to a flat trading in morning session. Hang Seng is the top gainer so far as it is trading up by 221 points. It is followed by Nikkei, which is up by 30 points. The KOSPI and the Straits Times are trading in nominal gain.
Buzzers: Deccan Cements jump almost 5%, to trade at Rs 179 and making a day high at Rs 179.10.
Nifty Future is trading at 6730 level and its resistance around 6780 .We may see it trade in the range bound.
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