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MARKET WRAP: Sensex ends 284 points higher, Nifty at 10,768; midcaps shine

Mid-cap, small-cap stocks outperform. Among sectoral indices, the Nifty Realty index surged nearly 3% on Thursday, led by Unitech and Prestige Estates Projects

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, Trade
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Nifty Realty index ends 2.97% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) UNITECH 4.95 4.15 0.80 19.28 PRESTIGE ESTATES 254.90 233.05 21.85 9.38 GODREJ PROPERT. 790.00 726.20 63.80 8.79 BRIGADE ENTERPR. 248.60 231.10 17.50 7.57 H D I L 22.20 20.70 1.50 7.25 Nifty sectoral gainers of the day BSE Sensex gainers and losers of the day Market at close   The S&P BSE Sensex ended at 35,463, up 284 points while the broader Nifty50 index settled at 10,768, up 84 points. PSU banks extend gain; IDBI Bank, Canara Bank up over 4% Shares of public sector undertaking (PSU) banks were trading higher for the second day in a row, gaining nearly 4%, after the Monetary Policy Committee (MPC) in its second bi-monthly policy for 2018-19 voted unanimously for a hike in policy repo rate of 25 bps, while retaining its neutral stance. READ MORE   Gold inches up as euro gains against dollar Gold prices inched up on Thursday as the euro rose to 2-week highs against the US dollar, with investors waiting for meetings of key central banks and the US-North Korea summit all due next week.   Spot gold was up 0.1 per cent at $1,297.46 per ounce, while US gold futures for August delivery were largely unchanged at $1,301.50 per ounce. READ MORE

The ended higher on Thursday after the Reserve Bank of India's (RBI's) Monetary Policy Committee on Wednesday hiked repo rate by 25 bps to 6.25%, for the first time in four years, while maintaining a neutral stance. 

The S&P BSE ended at 35,463, up 284 points while the broader Nifty50 index settled at 10,768, up 84 points.

The S&P BSE Midcap index rose 1.40% today led by a rise in shares of SAIL and IDBI Bank, while the BSE Smallcap index settled nearly 2% higher led by Unitech and Ramkey Infrastructures. Among sectoral indices, the Realty index surged nearly 3% on Thursday, led by Unitech and Prestige Estates Projects.

RBI's MONETARY POLICY

The six-member monetary policy committee (MPC) unanimously voted for a rate hike, citing the fear of inflation, partly flared by the recent spike in crude oil prices. The central bank’s April policy tone was dovish and it had actually lowered inflation forecasts for the first and second half of 2018-19. 

"We had previously expected the start of the cycle in 4Q18. However, reflecting this earlier than expected move, we now expect the rate hikes to be front-loaded. Specifically, we expect rate hikes in the August and October meetings but that the total quantum of rate hikes will remain at 75bps for this cycle," analysts at Morgan Stanley said in a note on Thursday.

GLOBAL MARKETS

rose Thursday, with in Japan and South Korea notching convincing gains in early morning trade. That followed moves higher on Wall Street in the last session, which saw the Dow Jones industrial average close above 25,000.

The Nikkei 225 edged up by 0.69 perc ent in early morning trade. South Korean stocks saw similar gains, with the benchmark Kospi up 0.67 per cent.

(With inputs from agencies)

First Published: Thu, June 07 2018. 15:30 IST
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MARKET WRAP: Sensex ends 284 points higher, Nifty at 10,768; midcaps shine

Mid-cap, small-cap stocks outperform. Among sectoral indices, the Nifty Realty index surged nearly 3% on Thursday, led by Unitech and Prestige Estates Projects

The ended higher on Thursday after the Reserve Bank of India's (RBI's) Monetary Policy Committee on Wednesday hiked repo rate by 25 bps to 6.25%, for the first time in four years, while maintaining a neutral stance. 

The S&P BSE ended at 35,463, up 284 points while the broader Nifty50 index settled at 10,768, up 84 points.

The S&P BSE Midcap index rose 1.40% today led by a rise in shares of SAIL and IDBI Bank, while the BSE Smallcap index settled nearly 2% higher led by Unitech and Ramkey Infrastructures. Among sectoral indices, the Realty index surged nearly 3% on Thursday, led by Unitech and Prestige Estates Projects.

RBI's MONETARY POLICY

The six-member monetary policy committee (MPC) unanimously voted for a rate hike, citing the fear of inflation, partly flared by the recent spike in crude oil prices. The central bank’s April policy tone was dovish and it had actually lowered inflation forecasts for the first and second half of 2018-19. 

"We had previously expected the start of the cycle in 4Q18. However, reflecting this earlier than expected move, we now expect the rate hikes to be front-loaded. Specifically, we expect rate hikes in the August and October meetings but that the total quantum of rate hikes will remain at 75bps for this cycle," analysts at Morgan Stanley said in a note on Thursday.

GLOBAL MARKETS

rose Thursday, with in Japan and South Korea notching convincing gains in early morning trade. That followed moves higher on Wall Street in the last session, which saw the Dow Jones industrial average close above 25,000.

The Nikkei 225 edged up by 0.69 perc ent in early morning trade. South Korean stocks saw similar gains, with the benchmark Kospi up 0.67 per cent.

(With inputs from agencies)

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