Benchmark indices jumped after the RBI cut the repo rate but shed all of its gains soon on profit-booking in to end on a flat note. The Sensex was down by 0.01% or 4.14 points to 36971.09. The Nifty rose by 0.06% or 6.95 points to 11069.40.
Market breadth was in favour of advances with an advance-decline ratio of 3:2.
Zee Entertainment, Sun Pharma, Eicher Motors, Bharti Infratel and Bajaj Auto were the top gainers on the Nifty, while JSW Steel, Reliance Industries, L&T, Hindalco and Power Grid were the top losers.
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Stocks in the news
1. Reserve Bank of India cut the repo rate by 25 bps to 6.25%.
2. MRF Q3 net profit fell by 18% y-o-y to Rs. 279.3 crore.
3. Bajaj Electricals net profit rose by 73.6% y-o-y to Rs. 64 crore.
4. Grasim Q3 net profit increased by 28.3% y-o-y to Rs. 608 crore.
Buzzing stocks on BSE
1. AstraZeneca Pharma India jumped by 11.66% to Rs. 1,793, after the company reported net profit of Rs. 29.09 crore in Q3FY2019 as against net loss of Rs. 10.35 crore in Q3FY2018.
2. Shares of Sun Pharmaceuticals surged by 4.48% to Rs. 434, after its US subsidiary Taro Pharmaceutical reported strong results for the quarter ended December 2018.
Asian stock markets ended mixed on February 07 on uncertainty over US-China trade talks as negotiations between the world’s largest and second largest economies continue.
European stock markets were marginally lower as market participants digested the latest flurry of corporate results.
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