At 1:46 pm, the Sensex was trading at 20380, up 24 points and the Nifty was at 6126, up 9 points. The Nifty Nov 2010 futures were trading at 38 points premium.
RBI kept CRR unchanged at 6 percent and left FY11 GDP forecast unchanged at 8.5 percent. RBI said likelihood of further rate actions looked relatively low.
However, along with power companies' shares, selling continued in Reliance Industries, DLF, Bharti Airtel, Tata Motors, ICICI Bank, Sterlite Industries, M&M, Cipla, Maruti, Sun Pharma and Ranbaxy Labs.
Trading turns green as RBI hikes repo rates
Market turned trading from red to green. NSE Nifty remained neutral and was still moving in a tight range of 6101-6130 post key rates hike by Reserve Bank of India (RBI).
RBI has hiked repo and reverse repo rates by 25 bps.
At 12.35 hrs, BSE Sensex was 20358.27 up 2.64 points and NSE Nifty was 6118.90 up 1.35 points.
The most active in trading were ICICI Bank, Reliance, Larsen and SBI.
The top gainers were ACC up 4.55 percent, Ambuja cements up 3.47 percent, BPCL up 2.17 percent and Larsen up 2.06 percent.
The top losers were DLF down 3.02 percent, Suzlon Energy down 2.05 percent, Tata Motors down 1.79 percent and Jindal Steel down 1.48 percent.
Market starts trading in red; ICICI, SAIL dip
Market started trading in a consolidation mode following the weak Asian cues. The Nifty was trying to hold 6100 level.
Hero Honda, PNB, HDFC Bank, IDFC, ACC, NTPC, ONGC and L&T were witnessing profit.
Power Grid, ICICI Bank, Jaiprakash Associates, DLF, Infosys, HCL Tech, Suzlon Energy, Sun Pharma and Bharti Airtel were under selling pressure.
At 9.35 hrs, BSE Sensex was 20336.89 down 7.82 points and NSE Nifty was 6113.25 down 6.10 points.
The most active in trading were ICICI Bank, Reliance, Tata Steel and Larsen.
The top gainers were Ambuja cements up 1.72 percent, ACC up 1.46 percent, Hero Honda up 1.38 percent and IDFC up 0.72 percent.
The top losers were Power Grid Corp down 1.84 percent, ICICI Bank down 1.22 percent, SAIL down 1.11 percent and Suzlon Energy down 1.03 percent.