Finance Update

D-Street Buzz: Rate sensitives trade mixed ahead of RBI Policy; Tata Motors up 1%, HCL Tech falls


Ahead of RBI’s monetary policy which is scheduled later in the day, benchmark indices have managed to trade in the green following global cues with Nifty trading at 11,649, up 5 points while the Sensex is up 30 points and is trading at 38,907.

The top performing sector is the realty space with added close to a percent led by Godrej Properties, Unitech, Prestige Estates, DLF and Phoenix Mills.

Bank Nifty is almost flat with Kotak Mahindra Bank, HDFC Bank and Axis Bank trading in the green while YES Bank, Bank of Baroda, IndusInd Bank and RBL Bank are trading in the red.

From the auto space, the top gainers are Hero MotoCorp, Tata Motors, Exide Industries, Maruti Suzuki and Bajaj Auto while on the other hand, Mahindra & Mahindra and Eicher Motors traded in the red.

Nifty IT shed close to a percent dragged by HCL Tech which is down 3 percent followed by Wipro, Tata Elxsi, Tech Mahindra and Infosys.

Selective metal stocks are down led by Hindalco Industries, Tata Steel, JSPL, SAIL and JSW Steel.

India VIX moved up by 1.22 percent at 19.01 levels.

The top Nifty gainers include Bharti Airtel, hero MotoCorp, UltraTech Cement, Indiabulls Housing Finance and Asian Paints while HCL Tech, Wipro, YES Bank, BPCL and Hindalco are the top losers.

The most active stocks are Indiabulls Housing, Amara Raja Batteries, Tata Motors, Maruti Suzuki and YES Bank.

Bil Energy Systems, Jai Balaji Industries, MT Educare, Seamec and Spacenet Enterprises hit 52-week high on NSE while Cox & Kings, Vodafone Idea, Reliance Communications and Uttam Value Steels hit new 52- week low.

The breadth of the market favoured the declines as 713 stocks advanced and 787 declined while 550 remained unchanged. On the BSE, 776 stocks advanced, 665 declined and 91 remained unchanged.

Disclosure

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Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.



Source

Prakash Poojary
Business Analyst

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