The main Indian equity benchmarks came off their session highs in early afternoon trade while the rupee retreated from the day's peak after the RBI left all policy rates and ratios unchanged to support a slowing Indian economy. Some market watchers had expected a cut in the CRR from the RBI, but the central bank chose to play it safe as inflation is still high around nine percentage points. Banking stocks hardly reacted to the RBI's mid-quarter policy review.
Earlier, Indian stock indices had notched solid gains, with the Sensex and the Nifty both up over one percentage point each. Currently, the Sensex is trailing around the 16000 level, whereas, the Nifty is hovering around the 4800 level. The mid-cap and the small-cap counters are both trading positive by over half a percentage point. On the sectoral front, leaving the Capital Goods index, all the other indices are trading in green. The Consumer Durables and Auto counters are the major gainers till now and are trading positive by over two percentage points. The market breadth is also positive as eight stocks are seen advancing for every five declines.
(Pic. Source- bseindia.com)
No comments:
Post a Comment