Post-Session: Sensex dips over 100 pts; Nifty holds 8700 level Analysis for Feb 03, 2015

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The Indian benchmarks closed on dull note with the BSE Sensex declining over 100 points while NSE Nifty crosses 8,700 marks with financials leading the decline after the Reserve Bank of India at its policy review today kept key rates unchanged. The Reserve Bank of India (RBI) kept the key rates unchanged. The repo rate was unchanged at 7.75 per cent and the reverse repo rate at 6.75 per cent. However, RBI has cut SLR by 50 basis points to 21.5 per cent, effective February 7. The repo rate 25bp to 7.50 per cent from 7.25 per cent. Among the individual stocks, shares of Axis Bank, Tata Power Company, Bajaj Auto, Mahindra & Mahindra and Housing Development Finance Corporation, were among losers on BSE. At 4:00PM BSE SENSEX was at 29000.14 down by 122.13 points or by 0.42 per cent and then NSE Nifty was at 8756.55 down by 40.85 points or by 0.46 per cent.

Meanwhile, the broader markets, the BSE MIDCAP was at 10768.23 down by 30.9 points or by 0.29 per cent while the BSE SMLCAP was at 11426.78 down by 30.06 points or by 0.26 per cent

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 210.55,+6.23 per cent), Bharti Airtel Ltd. (Rs. 371.85,+3.42 per cent), Reliance Industries Ltd. (Rs. 937.45,+3.25 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 359.25,+2.64 per cent), Tata Consultancy Services Ltd. (Rs. 2554.80,+1.67 per cent), among others.

On the flip side, the top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 586.50,-4.95 per cent), Tata Power Company Ltd. (Rs. 87.30,-4.12 per cent), Bajaj Auto Ltd. (Rs. 2260.10,-3.74 per cent), Mahindra & Mahindra Ltd. (Rs. 1200.05,-3.52 per cent), Housing Development Finance Corporation Ltd. (Rs. 1232.40,-2.98 per cent), among others.

The top gainers of the NSE Nifty pack were Sesa Sterlite Ltd. (Rs. 210.70,+6.31 per cent), Cairn India Ltd. (Rs. 245.35,+4.09 per cent), Bharti Airtel Ltd. (Rs. 371.55,+3.41 per cent), Reliance Industries Ltd. (Rs. 937.60,+3.25 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 359.45,+2.74 per cent), among others.

The top losers of the NSE Nifty pack were Punjab National Bank (Rs. 176.85,-7.79 per cent), Axis Bank Ltd. (Rs. 586.60,-4.97 per cent), Tata Power Company Ltd. (Rs. 87.35,-4.17 per cent), Bajaj Auto Ltd. (Rs. 2260.75,-3.77 per cent), Kotak Mahindra Bank Ltd. (Rs. 1306.30,-3.41 per cent), among others.

Among the thirteen sectoral indices, banking index was leading the decline and was trading at 22188.53 down by -593.57 points or by -2.61 per cent. Punjab National Bank (Rs. 176.75,-7.94 per cent), Axis Bank Ltd. (Rs. 586.50,-4.95 per cent), Bank of India (Rs. 260.85,-4.59 per cent), Canara Bank (Rs. 438.80,-3.51 per cent), Kotak Mahindra Bank Ltd. (Rs. 1307.60,-3.33 per cent) were supporting the decline.

Following the banking index, BSE Realty index was at 1789.8 down by -25.88 points or by -1.43 per cent. Housing Development & Infrastructure Ltd. (Rs. 105.05,-4.67 per cent), Anant Raj Ltd. (Rs. 48.45,-4.34 per cent), D B Realty Ltd. (Rs. 89.65,-4.01 per cent), Indiabulls Real Estate Ltd. (Rs. 81.50,-3.44 per cent), Unitech Ltd. (Rs. 18.75,-2.85 per cent) were among other notable gainers.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3152 , shares advanced were 1424 while 1591 shares declined and 137 were unchanged

Story first published: Tuesday, February 3, 2015, 16:48 [IST]
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