MUMBAI (Commodity Online): Indian equity markets opened on strong note tracking positive global cues. Sensex opened above 17000 and maintain this psychological level in first half of the day. Indices remained choppy in first half of the day. Stock specific activity was seen. Auto and Metal stocks witnessed buying while IT and FMCG witnessed profit booking.
Markets became extremely volatile after RBI raise key rates. RBI hiked repo and reverse repo rate by 25 bps in line with markets expectation. Indices soon paired almost all the gain after the announcement. However, buying in Financial stocks recouped some gain.
Markets breadth remained positive. Midcap and Smallcap stocks closed flat along with Benchmark indices. Sensex closed almost flat with gain of 0.4% this week.
BSE Sensex closed at 16933.83 with the gain of 57.29 points and at NSE Nifty closed at 5084.25 with the gain of 8.55 points at the end of the day. BSE MIDCAP index closed at 6390.12 with the gain of 23.08 points and BSE SMALLCAP index closed at 7213.02 with the loss of 0.74 points.
In percentage terms key gainers were Tata Motors Ltd (NSE: TATAMOTORS), Oil & Natural Gas Corporation Ltd (NSE: ONGC) and NTPC Ltd (NSE: NTPC) while key loser were Ambuja Cements Ltd (NSE: AMBUJACEM), HCL Technologies Ltd (NSE: HCLTECH) and Reliance Communication Ltd (NSE: RCOM).
On sectoral front almost all the sectoral indices closed in green barring IT and FMCG index closed in red. Major buying was seen in Power, Realty, Auto and Banking & Financial sectors. Market breadth on BSE remained positive were 1512 advances against 1294 declines stocks.
From the perspective of weight in Nifty key gainers Oil & Natural Gas Corporation Ltd (NSE: ONGC), Tata Motors Ltd (NSE: TATAMOTORS) and State Bank of India Ltd (NSE: SBIN) while key losers were Reliance Industries Ltd (NSE: RELIANCE), Hindustan Unilever Ltd (NSE: HINDUNILVR) and ITC Ltd (NSE: ITC).
Courtesy: www.makemystocks.com
