Domestic stocks reversed initial gains and were trading with small losses in early trade. At 9:21 IST, the barometer index, the S&P BSE Sensex, was down 26.98 points or 0.09% at 31,470.40. The Nifty 50 index was down 2.45 points or 0.02% at 9,857.05. The key event is the Reserve Bank of India's (RBI) monetary policy meeting today, 4 October 2017.
The S&P BSE Mid-Cap index was up 0.29%. The S&P BSE Small-Cap index was up 0.14%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 760 shares rose and 544 shares fell. A total of 40 shares were unchanged.
Overseas, most Asian stocks were trading higher. Markets in China, South Korea and Taiwan were closed for a holiday. In US, the three major stock indices on Wall Street closed at record highs yesterday, 3 October 2017 driven by expectations of strong global growth.
Back home, ONGC (up 1.09%), ITC (up 0.86%), and Lupin (up 0.6%) edged higher from the Sensex pack.
Hero MotoCorp rose 0.32% after the company said it set a new global benchmark in the two-wheeler industry, surpassing the seven lakh sales mark in any month. The company said its total sales rose 6.78% to 7.20 lakh units in September 2017 over September 2016. The announcement was made after market hours yesterday, 3 October 2017.
Yes Bank rose 0.67% after the bank successfully raised Rs 1500 crore of Basel III compliant Tier-II bonds through private placement against the base issue size of Rs 1500 crore. The announcement was made after market hours yesterday, 3 October 2017.
On the macro front, the Reserve Bank of India's (RBI) bimonthly monetary policy decision is slated at 14:30 IST today, 4 October 2017. The central bank had cut policy repo rate by 25 basis points to 6% after its last monetary policy meeting in August, reducing the key policy rates for the first time in this fiscal year.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
