Mkts end lower on RBI rate hike, -ve Euro cues

Subscribe to Oneindia News

Sensex, Nifty: Market updates
Mumbai, Mar 22: The markets reacted to RBI's Friday, Mar 18 decision to hike repo and reverse repo rates by 25 bps on Monday, Mar 22. Even though this seemed to be the initial knee-jerk reaction as the markets showed signs of recovering in the after noon, the indices slipped into the red again on weak European cues.

The 30-share BSE Sensex shut shop at 17,410.57, down 167.66 points or 0.95 per cent and the 50-share NSE Nifty fell 57.60 points to end at 5,205.20.

The broader indices also followed the becnmarks to a downward journey. The BSE Midcap Index closed down by 1 per cent and Smallcap shut shop down 0.85 per cent.
4: 33 PM

Mkts hit by -ve Euro cues, auto, metal, power dip

Downtrend in banking, auto, realty, capital goods, power, metal and FMCG companies' shares plunged the Sensex further into the red zone. Indian markets are also being weight down by negative opening of the European markets.

At 1: 49 pm, BSE Sensex was trading at 17479, down 98 points and NSE Nifty was at 5226, down 36 points.

While the index heavyweight Reliance Industries, rate sensitives were also on a southbound journey.

The only gainers were TCS, Bharti, HDFC Bank, ONGC, Wipro, Reliance Communications, Power Grid, Cipla and Grasim.

ARSS Infra, Man Infra, Jubilant Foodworks, Reliance Industries, Amtek Auto, ICICI Bank and Sesa Goa were the most active shares.

Among the midcaps, Pipavav, Sun Pharma Advanced, Amtek Auto, Atlas Copco and Ipca Labs gained 4.5 to 6.8 per cent. However, Indiabulls Real, Puravankara Projects, IndusInd Bank, Apollo Tyres and Coromandel International slipped 3.3 to 5 per cent.

Sandur Manganes, Suven Life Science, ABG Infralogistic, Piramal Life and Money Matters were the smallcap gainers, up 7.7 to 10 per cent. Richa Industries, Panyam Cements, Federal-Mogul, Hinduja Foundries and Atco Corp plunged 5.5 to 8 per cent.
2: 24 PM

Selling in metal, reality, power plagues mkts

The benchmarks were gaining support to recoup from the initial losses from the heavyweights Bharti Airtel, ONGC, TCS and Reliance Industries. However, selling continued to plague the markets.

At 12 pm, BSE Sensex was trading at 17,535.83, down 42.40 points and NSE Nifty was at 5247.20, down 15.60.

Selling in banking and financial, capital goods, metal, realty and power was weighing on the markets.

Buying interest was seen in Wipro, HDFC Bank, Reliance Communications, BPCL, Tata Power along with cement and pharma stocks.

Bharati Airtel surged 2.5 per cent as the company gets set to buy Zain's assets in Africa.
12: 07 PM

Mkts see red over RBI's move to hike rates

The Indian markets opened the week on a negative note in response to the central bank Reserve Bank of India's (RBI) to rise the repo and reverse repo rates to 25 bps.

RBI announced this hike on Friday, Mar 19 after the markets closed. US markets responded negatively to the move on the same day.

After opening with huge gap down as a knee-jerk reaction, NSE Nifty quickly picked itself up and gained 30 points.

At 9:02 am, NSE Nifty was trading at 5212, down 50 points and BSE Sensex was at 17424, down 153 points. The CNX Midacp went down 68 points to 7533 and the BSE Smallcap fell 64 points to 8430.

Frontliners such as Unitech, ICICI Bank, DLF, HDFC, Jaiprakash Associates, Suzlon, Cairn, SAIL, SBI, Reliance Capital, Axis Bank and Tata Steel were reeling under selling pressure.

On the positive side, Bharti Airtel rose 1.8 per cent, and Cipla was up 0.5 per cent.

Among the midcaps and smallcaps, HDIL, Dena Bank, Indiabulls Real, Ackruti City, United Bank of India and Bank of India slipped 0.5 to 3 per cent. S Kumars was down 1.7 per cent, Apollo Tyres down 2 per cent and NMDC plunged 3 per cent.
9: 42 AM

OneIndia News

Please Wait while comments are loading...