2:52 am - Thursday November 5, 2015

RBI surprises Street; Sensex pares gains after hitting mount 30k

31 Viewed Gautam Comments Off on RBI surprises Street; Sensex pares gains after hitting mount 30k
sensex_2253161f

NEW DELHI: The S&P BSE Sensex has pared gains after rallying as much as 431 points in trade on Wednesday, after the Reserve Bank of India (RBI) slashed repo rate by 25 bps to 7.5 per cent from 7.75 per cent earlier.

Tracking the momentum, the 50-share Nifty index also came under some pressure after hitting fresh record high of 9119.20. The rally in the index was led by gains in banks, consumer durable, FMCG, and realty stocks.
Sensex was at 29,817.872; up 24.14 points. The Nifty was at 9,054.65; up 58.4 points.

Top gainers on Sensex: SUN PHARMA (5.1%), ICICI BANK (2.4%), TATA MOTORS (2.3%), BHARTI AIRTELBSE 2.25 % (2.3%), SBI (1.7%)

Top losers: COAL INDIA (-1.1%), HINDALCO (-0.7%), TATA POWER (-0.7%), WIPRO (0.7%), GAIL(-0.6%)
Earlier in the day, the rupee strengthened by 27 paise to trade at 61.65 against the dollar in trade at the Interbank Foreign Exchange after the RBI cut interest rates by 0.25 per cent to 7.5 per cent.

India’s 10-year benchmark bond yield fell to 7.64 percent, the lowest since Feb. 2 compared with its Tuesday’s close of 7.75 percent, Reuters reported.

Rate sensitive stocks such as banks, autos, realty and capital goods stocks surged higher in trade, after the surprise rate cut by the RBI.

Here is a list of ten stocks which are in focus today:

Ranbaxy LaboratoriesBSE 6.13 % Ltd: The drug maker tentative approvals for its generic versions of digestive disorder drug Nexium and antiviral Valcyte along with 180-days marketing exclusivity stands canceled following a US court decision.

At 10:20 a.m.; the stock was trading 2.1 per cent higher at Rs 747.

Larsen & Toubro (L&T): The company said it has bagged orders worth Rs 2,215 crore across various business segments in the last two months.

At 10:20 a.m.; the stock was trading 0.9 per cent higher at Rs 1866.

Central Bank & IOB: Rating agency Moody’s today downgraded state-run lenders Central Bank of India and Indian Overseas Bank’s local and foreign currency deposit ratings, anticipating low level of support from the government to these banks.

At 10:20 a.m.; Central Bank was trading 0.5 per cent higher at Rs 105.70, and IOB was up 0.4 per cent to Rs 50.15.

Crompton Greaves Ltd: The board has approved demerger of its consumer products business into a separate listed company, Crompton Greaves Consumer Electricals Ltd (CGCEL), from October 1.

At 10:20 a.m.; the stock was trading 0.3 per cent higher at Rs 181.65.

Adani Ports & Special Economic Zone Ltd Gautam Adani led Adani Ports & Special Economic Zone (APSEZ) is said to be in talks with Essar Group to acquire its ports business. According to multiple sources in the know, early stage discussions have been ongoing between both sides and may soon progress to a formal diligence.

At 10:20 a.m.; the stock was trading 1.4 per cent higher at Rs 341.30.

Sun Pharmaceutical Industries Ltd: India’s largest drug maker, said it would acquire the opiates business of British drug maker GlaxoSmithKline (GSK) in Australia, in keeping with a strategy to venture into areas where competition is limited.

At 10:20 a.m.; the stock was trading 2.2 per cent higher at Rs 963.

Bharti AIRTELBSE 2.25 % Ltd: The telecom major has entered into a partnership with China Mobile, the world’s largest telco, for jointly sourcing devices and equipment as well as developing 4G technology and standards, a development which will help India’s biggest telecom operator take on Reliance Jio Infocomm.

At 10:20 a.m.; the stock was trading 1.5 per cent higher at Rs 354.30.

IOC: The oil major has suspended a senior executive, who was handling international trade and was a step away from joining the board of the country’s largest refiner-marketer, on charges of sharing information with a private company executive.

At 10:20 a.m.; the stock was trading 1.4 per cent lower at Rs 351.30.

UCO Bank: State-run UCO BankBSE -0.74 % on Tuesday reduced interest rate on select bulk deposits by 11-52 basis points. The Kolkata-based lender will now pay interest at the rate of 8.7 per cent on deposits above Rs 5 crore maturing in 350-375 days, instead of the earlier 8.81 per cent, said media reports.

At 10:20 a.m.; the stock was trading 0.6 per cent higher at Rs 74.65.

Click here to submit your review.


Submit your review
* Required Field

Don't miss the stories followIndiaVision News and Information and let's be smart!
Loading...
0/5 - 0
You need login to vote.
Filed in
TH20_BU_COAL_MINE_2315988f

Fierce bidding for coal blocks raises viability concerns

Sensex down 120 points

Sensex hits 30,000-mark in a first; top 20 intraday trading ideas

Related posts