 "Markets slip as RBI keeps rates unchanged; Nifty below 8,650")
Benchmark share indices erased early gains after the Reserve Bank of India at its first bi-monthly Monetary Policy for 2015-16 today maintained status quo on key rates and also kept the CRR unchanged at 4%.
At 11:06AM, the 30-share Sensex was down 84 points at 28,420 after hitting an intra- high of 28,641 while the 50-share Nifty was down 29 points at 8,631 after touching a high of 8,694 in early trades. The Bank Nifty was down 0.6% at 18,499.
It may be recalled that the RBI Governor Raghuram Rajan had surprised the markets by announcing a cut in the repo rate by 25 basis points to 7.75% on 15 January 2015 and reduction in repo rate by 25 basis points to 7.5% on 4 March 2015.
Meanwhile, foreign institutional investors were net buyers in equities worth Rs 937 crore, as per provisional stock exchange data.
The Indian rupee was trading lower at 62.30 compared to the previous close of 62.19 to the US dollar.
BUZZING STOCKS
Banks were trading mixed with SBI trading marginally higher while private banks were trading with marginal losses.
Pharma stocks are witnessing profit taking after sharp gains on Monday. Sun Pharma which had gained nearly 6% yesterday was down 2%. Cipla and Dr Reddy's Labs was also trading
BHEL was down nearly 1% after the state-owned company reported a 62% decline in net profit to Rs 1,314 crore in the just-concluded financial year, on the back of a dip in turnover.
Among the index heavyweights ITC and Infosys also witnessed profit taking and were down 0.6% each.
Among the Sensex gainers, Reliance Industries was up 1% while TCS was also up 1%. Other gainers include, L&T, Bajaj Auto and Hindustan Unilever among others.
GLOBAL MARKETS
Asian markets extended gains after a firm start tracking overnight gains on Wall Street. Shares in Japan and China were among the top gainers with both the benchmark indices viz Nikkei and Shanghai Composite up 1.2 and 2%, respectively. Singapore's Straits Times was up 0.4% while Hong Kong market was closed for trading today.
US stocks ended higher on Monday on expectation that the US Fed would not raise interest rates on account of weaker-than-expected jobs data released last week. The Dow Jones gained 118 points at 17,880.85, S&P 500 gained 14 points at 2,080.62 and the tech-laden Nasdaq ended up 30 points at 4,917.32.
At 11:06AM, the 30-share Sensex was down 84 points at 28,420 after hitting an intra- high of 28,641 while the 50-share Nifty was down 29 points at 8,631 after touching a high of 8,694 in early trades. The Bank Nifty was down 0.6% at 18,499.
It may be recalled that the RBI Governor Raghuram Rajan had surprised the markets by announcing a cut in the repo rate by 25 basis points to 7.75% on 15 January 2015 and reduction in repo rate by 25 basis points to 7.5% on 4 March 2015.
Meanwhile, foreign institutional investors were net buyers in equities worth Rs 937 crore, as per provisional stock exchange data.
The Indian rupee was trading lower at 62.30 compared to the previous close of 62.19 to the US dollar.
BUZZING STOCKS
Banks were trading mixed with SBI trading marginally higher while private banks were trading with marginal losses.
Pharma stocks are witnessing profit taking after sharp gains on Monday. Sun Pharma which had gained nearly 6% yesterday was down 2%. Cipla and Dr Reddy's Labs was also trading
BHEL was down nearly 1% after the state-owned company reported a 62% decline in net profit to Rs 1,314 crore in the just-concluded financial year, on the back of a dip in turnover.
Among the index heavyweights ITC and Infosys also witnessed profit taking and were down 0.6% each.
Among the Sensex gainers, Reliance Industries was up 1% while TCS was also up 1%. Other gainers include, L&T, Bajaj Auto and Hindustan Unilever among others.
GLOBAL MARKETS
Asian markets extended gains after a firm start tracking overnight gains on Wall Street. Shares in Japan and China were among the top gainers with both the benchmark indices viz Nikkei and Shanghai Composite up 1.2 and 2%, respectively. Singapore's Straits Times was up 0.4% while Hong Kong market was closed for trading today.
US stocks ended higher on Monday on expectation that the US Fed would not raise interest rates on account of weaker-than-expected jobs data released last week. The Dow Jones gained 118 points at 17,880.85, S&P 500 gained 14 points at 2,080.62 and the tech-laden Nasdaq ended up 30 points at 4,917.32.