MARKETS » NEWS » MARKET UPDATE Markets turn choppy; Nifty reclaims 8,550 post RBI policy meet

Markets have erased losses with Nifty reclaiming its 8,550 mark helped by a smart recovery in the rate sensitive shares after the Reserve Bank of India at its third bi-monthly Monetary Policy today maintained status quo on key rates and also kept the CRR unchanged at 4%. Meanwhile the repo rate is quoting at 7.25% Stock Market Tips 

At 11:35AM, the Sensex is flat at 28,183 while the Nifty is up 7 points at 8,550. 

In the banking space, SBI, Axis Bank, PNB and Bank of Baroda and ICICI Bank are up between 0.2-3%.

In the auto pack, Hero Motocorp, M&M, Bajaj Auto are up between 0.5-2.5%. In the realty space, India Bulls reals estate, DB Realty, HDIL and Prestige estate are up between 1-5%.
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(updated at 11.35 AM)

Benchmark share indices has trimmed losses after the Reserve Bank of India at its third bi-monthly Monetary Policy today maintained status quo on key rates and also kept the CRR unchanged at 4%. Meanwhile the repo rate is left unchanged at 7.25%  Free Share Tips  .

At 11:10 AM, the 30-share Sensex was down 63 points at 28,124 while the 50-share Nifty was down 11 points at 8,533.The Bank Nifty was down 0.1% at 18,893.

In the banking space, SBI, Axis Bank, HDFC Bank are up between 0.2-1% while ICICI Bank is trading flat. In the auto pack, Hero Motocorp, M&M and Maruti Suzuki are up between 0.4-2.5%. In the Realty space, Godrej Properties, Prestige, DB Realty are up between 0.5-1.5%. However, Sobha, DLF and Unitech down between 0.1-1.5%.

Supply glut coupled with uncertainty over economic growth has pushed the oil prices futures below $50 a barrel for the first time since January. Reacting to the news, BPCL, HPCL and IOCL are trading firm and are up between 0.2-1.4%. However, oil and gas exploration companies have slumped in today’s tarde. ONGC, RIL and GAIL are down between 0.7-2%.Intraday Trading Tips

ONGC, Infosys, GAIL, Tata motors and Wipro are the top 5 losers and are trading lower between 1-2%. On the other hand, Hero Motocorp, Tata Steel, Hindalco, Bharti Airtel and Bajaj Auto are the top 5 gainers and are up between 0.8-2%.

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(updated at 10:50 AM)

Markets have slipped further in the negative territory owing to weakness in the rate sensitives ahead of the RBI monetary policy as investors remain wary that slowdown of monsoon and rise ininflation data are likely to weigh Commodity Trading Tips

Meanwhile, weakness among the global peers on the back of downbeat US economic data and disappointing manufacturing data from China has further hurt the sentiments.

At 10:50 AM, the Sensex is down 132 points at 28,055 levels and the Nifty has slipped 33 points at 8,510 mark.

Supply glut coupled with uncertainty over economic growth has pushed the oil prices futures below $50 a barrel for the first time since January. Reacting to the news, BPCL, HPCL and IOCL are trading firm and are up between 0.2-1.4%. However, oil and gas exploration companies have slumped in today’s tarde. ONGC, RIL and GAIL are down between 0.7-2%.

ONGC, Infosys, GAIL, Tata motors and Wipro are the top 5 losers and are trading lower between 1-2%. On the other hand, Hero Motocorp, Tata Steel, Hindalco, Bharti Airtel and Bajaj Auto are the top 5 gainers and are up between 0.8-2%. Nifty Trading Tips

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(updated at 9:45 AM)

After opening flat, markets have slipped into the negative territory with Nifty trading below the crucial mark of 8,550 as investors remain cautious ahead of the RBI monetary policy due later during the day.

Meanwhile, weakness among the global peers on the back of downbeat US economic data and disappointing manufacturing data from China is weighing on the bourses. 

At 9:45 AM, the Sensex is down 91 points at 28,096 levels and the Nifty has slipped 27 points at 8,516 mark. In the broader market, BSE Midcap and Smallcap indices are up 0.3% each. The market breadth is positive with 1,019 advances versus 774 declines.

Previously on 2 June 2015, the RBI had slashed its benchmark lending rate, the repo rate by 25 basis points to 7.25% in its monetary policy review.

MONSOON

India’s southwest monsoon in the remaining two months of the four-month season, that is in August and September, is expected to be below normal at 84 per cent of the long-period average (LPA) as El Niño weather conditions have strengthened in the past few months, the India Meteorological Department (IMD)  said on Monday.

STOCK TRENDS

On the sectoral front, BSE Bankex, FMCG, Consumer Durables indices are losing sheen up to 1%. However, BSE Metal index is up 1%.Nifty Trading Tips

Among key corporate earnings, Bharti Airtel and Britannia Industries are scheduled to announce their quarter ended June 2015 results today.

Hero MotoCorp is  up 3% after the country’s largest two-wheeler player reported a 33 per cent surge in net profit to Rs 750 crore for the quarter against Rs 563 crore in the corresponding quarter last year on the back of higher-than-expected margins.

Rate sensitive shares are trading on a cautious note ahead of the RBI policy review as investors wary that slowdown of monsoon and rise in inflation data will weigh. Tata Motors, Maruti Suzuki from the auto pack are down up to 15; ICICI Bank, Axis bank, SBI, HDFC from the financial space are trading lower up to 1%.and Oberoi Realty, DLF, Prestige from the realty space are losing sheen and are down up to 0.5%.

Bharti Airtel is trading 1% higher ahead of the quarterly results due today.

After suffering losses on the back of disappointing Chinese manufacturing numbers, metal shares are gaining in today’s trade on rnewed buying interest. Tata Steel, Vedanta, Hindalco and Coal India are trading higher up to 1%.

IT majors Infosys and Wipro are trading with losses on the back of an appreciating rupee and are down 0.8% and 1% each.Commodity Trading Tips