Post Session- Sensex advances over 180 pts even as RBI keeps rates
unchanged
05/08/2014 16:55
The key domestic benchmarks ended higher on Tuesday as the Sensex advanced by more than 180 points as realty and auto stocks advanced after the RBI cut the SLR rate to help boost lending in Asia’s third biggest economy. In a bid to boost lending, the RBI cut the SLR rate or the minimum bond holding requirements for banks, by 50 basis points to 22 per cent of deposits, effective from August 9, 2014. However, the RBI kept its benchmark repo rate unchanged at 8 per cent, as expected, in a bid to continue to rein in elevated inflation.
On the economic front, India’s services activity expanded in July, albeit at a slower pace as the HSBC Services PMI stood at 52.2 in July, down from 54.4 in the previous month, when the index surged to the highest level in 17 months, HSBC and Markit Economics said in a report on Tuesday. A reading above 50 signals expansion in services activity over the previous month.
Markets shrugged off weak cues from Asian markets which fell after a Chinese services gauge tumbled to a record low last month.
The BSE SENSEX closed at 25,908.01, up by 184.85 points or by 0.72 per cent and the NSE Nifty ended at 7,746.55, up by 62.9 points or by 0.82 per cent.
The BSE Sensex touched intraday high of 25,928.32 and intraday low of 25,562.36 The NSE Nifty touched intraday high of 7,752.45 and intraday low of 7,638.05.
The BSE MIDCAP closed at 9,272.54, up by 75.73 points or by 0.82 per cent, while the BSE SMLCAP ended at 10,111.27, up by 111.52 points or by 1.12 per cent.
On the Sectoral front, Realty and Auto advanced 2.65 per cent and 2.11 per cent, respectively.
The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3174, shares advanced were 1847 while 1196 shares declined and 131 were unchanged.
The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1229.95,+3.83%), Oil And Natural Gas Corporation Ltd. (Rs. 405.00,+3.18%), Bajaj Auto Ltd. (Rs. 2150.00,+2.71%), Hindalco Industries Ltd. (Rs. 195.35,+2.68%), Tata Motors Ltd. (Rs. 456.65,+2.20%), among others.
05/08/2014 16:55
The key domestic benchmarks ended higher on Tuesday as the Sensex advanced by more than 180 points as realty and auto stocks advanced after the RBI cut the SLR rate to help boost lending in Asia’s third biggest economy. In a bid to boost lending, the RBI cut the SLR rate or the minimum bond holding requirements for banks, by 50 basis points to 22 per cent of deposits, effective from August 9, 2014. However, the RBI kept its benchmark repo rate unchanged at 8 per cent, as expected, in a bid to continue to rein in elevated inflation.
On the economic front, India’s services activity expanded in July, albeit at a slower pace as the HSBC Services PMI stood at 52.2 in July, down from 54.4 in the previous month, when the index surged to the highest level in 17 months, HSBC and Markit Economics said in a report on Tuesday. A reading above 50 signals expansion in services activity over the previous month.
Markets shrugged off weak cues from Asian markets which fell after a Chinese services gauge tumbled to a record low last month.
The BSE SENSEX closed at 25,908.01, up by 184.85 points or by 0.72 per cent and the NSE Nifty ended at 7,746.55, up by 62.9 points or by 0.82 per cent.
The BSE Sensex touched intraday high of 25,928.32 and intraday low of 25,562.36 The NSE Nifty touched intraday high of 7,752.45 and intraday low of 7,638.05.
The BSE MIDCAP closed at 9,272.54, up by 75.73 points or by 0.82 per cent, while the BSE SMLCAP ended at 10,111.27, up by 111.52 points or by 1.12 per cent.
On the Sectoral front, Realty and Auto advanced 2.65 per cent and 2.11 per cent, respectively.
The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3174, shares advanced were 1847 while 1196 shares declined and 131 were unchanged.
The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1229.95,+3.83%), Oil And Natural Gas Corporation Ltd. (Rs. 405.00,+3.18%), Bajaj Auto Ltd. (Rs. 2150.00,+2.71%), Hindalco Industries Ltd. (Rs. 195.35,+2.68%), Tata Motors Ltd. (Rs. 456.65,+2.20%), among others.
