Ways2Capital Reviews : Nifty Above 10,600 Mark Ahead Of RBI Policy; IDFC Bank, Bajaj Finance Stocks Gain

Equity benchmark indices opened higher led by Infosys, L&T, ITC, Bharti Airtel and Reliance Industries and ahead of RBI Monetary Policy review that begins today.

At 10:41 AM, the BSE Sensex was up 147 points at 35,050, and the Nifty was up by 44 points at 10,637.

The Reserve Bank of India has issued a no objection certificate to the deal of merger between IDFC Bank and Capital First. Stocks gained 3% respectively.

Shares of CG Power and Industrial Solutions rose 3% after the company bagged an order from the Indian Railways worth at Rs319cr to supply Under Slung Electrics for Diesel Electric Tower Car (DETC).

On the sectoral front, metal, auto, realty, FMCG, pharma and IT were trading in the positive zone, while media, bank and financial stocks in the red.

In the broader market, the BSE Midcap was marginally higher by 0.07%, while the BSE Smallcap was marginally down by 0.41%.

Out of 2,017 stocks traded on the NSE, 514 advanced, 1,023 declined and 480 remained unchanged today.

Power Grid (+1.6%), Coal India (+1.6%), Indiabulls HF (+1.5%), Bharti Airtel (+1.3%) and HCL Tech (+0.99%) were the top gainers on the NSE.

Tech Mahindra (-1.7%), Asian Paints (-1.5%), Zee (-1.2%), HPCL (-0.98%) and Cipla (-0.86%) were the top losers on the NSE.

The Indian rupee opened higher by 7 paise at 67.08 per dollar on Wednesday versus 67.15 yesterday.

Asian indices open in the green led by the Taiwanese and Hang Seng index, as markets saw sentiment turn bullish as growth expectations brightened. Financials led from the front even as industrial stocks contributed with ETF flows buying Asian stocks.

US indices recover intraday losses to close flat even, as Nasdaq hits fresh new all-time highs. Bond yields soften to 2.9%, as Italian yields also see some weakness, as EU initiates resumption of bond buying.
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About Bhoomi Desai