Kolkata: Will the RBI’s rate-cut adrenaline keep flowing in the stock market today? Will the significant gains of two of the three major US indices stoke market sentiments? Will GIFT Nifty and all Asian indices on Monday morning provide the necessary fillip to the investors to pick up trading today from where they left on Friday, June 6?
The possibilities appeared likely on the morning of June 9 as all the mood lifters seemed to be working. On Friday, the Indian equity market indices jumped in response to the RBI’s unexpected decision to slash the Repo Rate by as much a 50 basis points and CRR (cash reserve ratio) by 100 basis points to end the day 0.92% and 1.02% higher respectively. With the exception of the media index, all sectorial indices ended in the green with auto, metal, consumer durables, private bank indices gaining in excess of 1% each. BSE Realty Index surged a huge 4.74%.
Sensex, Nifty on June 6
Sensex 30 closed the day 746.95 points higher at 82,188.99, while Nifty 50 jumped 252.15 points to close at 25,003.05. In the Sensex pack, Bajaj Finance (4.93%), Axis Bank (3.15%) and Maruti (2.64%) were the biggest gainers and Bharti Airtel (0.39%), Tata Steel (1.41%) and Sun Pharma (0.20%) were the major laggards. Out of the 4,156 stocks traded on BSE, 2,278 stocks advanced, 1,744 stocks declined and 134 remained unchanged.
US indices on Friday, Asian indices today
Of the US indices while Dow Jones ended marginally in the red (0.10%), the gains of S&P500 (1.03%) and Nasdaq (1,20%) set the overall mood positive. In the Asian theatre, all the major indices Nikkei, Hang Seng, Straits Times, Taiwan Weighted, KOSPI, Shanghai Composite, Djakarta Composite were trading in the green on June 9 morning. GUFT Nifty was 0.30% up.
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The Reserve Bank of India has done its bit by slashing the Repo Rate by a jumbo and quite unexpected 50 basis points, which can boost the sluggish consumption in the country and provide a forward momentum to growth. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
