Indian equitiesturned positive to trade flat soon after RBI slashed CRR and repo rate by 25 bps as per expectations. Healthcare, IT and metal stocks gained. At 11.08 a.m., the Sensex was trading up 31.24 points or 0.16% at 20,134.59 with 19 components gaining. Meanwhile, the Nifty was trading higher by 19.35 points or 0.32% at 6,094.15 with 36 components gaining.
The RBI reduced repo and reverse repo by 25 bps each to 7.75% and 6.75% respectively. Meanwhile, cash reserve ratio (CRR) has been reduced to 4% from 4.25% earlier.
Sensex Movers
State Bank Of India contributed rise of 11.71 points in the Sensex. It was followed by I C I C I Bank (11.32 points), I T C (7.13 points), Tata Consultancy Services (6.96 points) and Infosys (6.77 points).
However, H D F C Bank contributed fall of 11.17 points in the Sensex. It was followed by Tata Motors (4.47 points), Wipro (3.54 points), Hindustan Unilever (2.96 points) and Oil & Natural Gas Corporation (2.69 points).
Biggest gainers in the 30-share index were State Bank Of India (1.47%), Tata Power Company (1.23%), Cipla (1.06%), Jindal Steel & Power (0.81%), Hero Motocorp (0.78%), and Tata Consultancy Services (0.75%).
On the other hand, Wipro (1.20%), H D F C Bank (0.75%), Tata Motors (0.66%), Mahindra & Mahindra (0.53%), Hindustan Unilever (0.49%), and Oil & Natural Gas Corporation (0.31%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap and Smallcap index rose 0.11% and 0.10% respectively.
Sectors in Limelight
The HC index was at 8,026.22, up by 40.66 points or by 0.51%. The major gainers were Glaxo SmithKline Pharmaceuticals (1.76%), Divis Laboratories (1.09%), Cipla (1.06%), Biocon (1.04%) and Apollo Hospitals Enterprise (0.85%).
The Realty index was at 2,237.50, up by 13.74 points or by 0.20%. The major gainers were Sobha Developers (2.65%), Oberoi Realty (2.4%), Parsvnath Developers (1.32%), Housing Development and Infrastructure (1.31%) and D L F (0.41%).
On the other hand, the Consumer Durables index was at 7,422.65, down by 58.54 points or by 0.78%. The major losers were Gitanjali Gems (1.26%), Titan Industries (1.16%), Videocon Industries (1.05%) and Rajesh Exports (0.41%).
Market Breadth
Market breadth was negative with 1,120 advances against 1,069 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 804.85 million. It was followed by Axis Bank (Rs. 563.71 million), Ajanta Pharma (Rs. 258.38 million) and Housing Development and Infrastructure (Rs. 254.27 million).
The volume chart was led by Visesh Infotecnics with trades of over 20.76 million shares. It was followed by Aadhaar Ventures India (12.80 million), Unitech (3.60 million) and Suzlon Energy (3.08 million).
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