Expectation Of Better Credit Policy Spurs Sentiment

The interest was more on the multinational scrips as also some pharmaceutical scrips, rather than on the pivotals dealers said.

The stocks that saw some hectic buying interest were Tata Tea, Siemens, Nalco, ONGC, Grasim and Bombay Dyeing. Also, HDFC having announced its results, gained Rs 37.45 to close at Rs 2166.95.

The NSE-50 opened at 892.07 points and touched a high of 902.74 during the day. While the days low was 885.23, the final closing figure was 897.77 points.

There was continued dominance by SBI, ITC, Reliance and Tisco, which together accounted for around 83 per cent of the total turnover volumes. The total volumes traded on the bourse was to the tune of Rs 980.60 crore wherein the net traded quantity was 532 lakh shares.

 

According to brokers, there is a general expectation in the market that the credit policy to be announced by the Reserve Bank of India would be a positive one and much better compared to the ones announced earlier.

The market is looking for some concrete indicators that the RBI has the intention of injecting liquidity into the market, which is the need of the hour, according to Rajesh Sachdeva, of Alliance Capital.