Benchmark indices ended higher but off day’s high on August 14 with Nifty finished above 11,000 level helped by the metal, infra and banking stocks.
The Sensex was up 353.37 points at 37,311.53, while Nifty was up 103.50 points at 11,029.40. About 1297 shares have advanced, 1148 shares declined, and 142 shares are unchanged.
It is positive start for the Indian Indices with Nifty above 10,950 level.
The Sensex is up 87.71 points or 0.24% at 37045.87, and the Nifty up 24.70 points or 0.23% at 10950.60. About 479 shares have advanced, 301 shares declined, and 21 shares are unchanged.
After holding on the gains in the first half, the market gave up all its intraday gains in the second half and ended near day’s low with Nifty finished below 10,950.
The Sensex was down 623.75 points at 36,958.16, while Nifty was down 183.80 points at 10,925.90. About 870 shares have advanced, 1621 shares declined, and 144 shares are unchanged.
It is a flat start for the Indian indices in the truncated week as Nifty trading below 11,100.
The Sensex is down 117.43 points at 37464.48, while Nifty is down 32.90 points at 11076.80. About 438 shares have advanced, 522 shares declined, and 53 shares are unchanged.
Indian indices ended higher for second consecutive day but off day’s high on August 9 with Nifty holding above 11,100 level.
Sensex was up 254.55 points at 37,581.91, while Nifty was up 77.20 points at 11,109.70. About 1521 shares have advanced, 952 shares declined, and 151 shares are unchanged.
Domestic equity markets ended lower on Wednesday despite RBI’s 35 bps rate cut as cut in GDP forecast to 6.9% for this fiscal, benign inflation outlook and fears of global slowdown dampened the investors’ sentiment.
Romesh Tiwari, head of research, CapitalAim , “I see an immediate positive impact on real estate, two-wheeler, and consumer durable companies ahead of the festival season.”
The Monetary Policy Committee (MPC) has reduced repo rates by another 35 basis points to 5.4 per cent in the August Policy review while maintaining an accommodative stance.
While it is apparent that the country is facing a deepening economic downturn, RBI Governor Shaktikanta Das also cited downside risks to global growth among other reasons for the policy stance.
A rate cut of 35 Basis point by RBI is along the unexpected line and will certainly help to increase liquidity. Increased limits for exposure limit to single NBFCs from lending bank up to 20 percent will help revive the lending activities of NBFCs.
For banks as well as NBFCs, a rate cut would bring down the cost of funds. For the real estate sector, a fall in interest rates could mean lower EMIs.
The Reserve Bank of India’s slashed rates for the fourth time in a row on August 7, but this time, it was an unconventional 35 bps cut as it maintained an “accommodative” stance.
Benchmark indices opened on positive note on August 9 with Nifty above 11,050 level.
Sensex is up 141.42 points at 37468.78, while Nifty is up 49.40 points at 11081.90. About 488 shares have advanced, 162 shares declined, and 17 shares are unchanged.