Home / Business / Money / Live Market Updates: Nifty holds 8800, Sensex flat; RBI cuts SLR by 50 bps

Live Market Updates: Nifty holds 8800, Sensex flat; RBI cuts SLR by 50 bps

The market seems to be unmoved as the central bank keeps repo rates unchanged but cuts SLR by 50 basis points to 21.5 percent. The Sensex is up 9.22 points at 29131.49 and the Nifty is up 5.05 points at 8802.45.

11:00

The News International Team

11:10 am Movers & gainers:  Bank Nifty is flat. SBI, ICICI Bank, IndusInd Bank, Bank of Baroda and YES Bank are top gainers among banking stocks. HDFC twins, Axis Bank and Kotak Mahindra are in red.

11:07 am Market check: The market starts to slide as the Sensex is down 31.34 points  at 29090.93 and the Nifty is down 5.80 points at 8791.60.  About 1240 shares have advanced, 1031 shares declined, and 239 shares are unchanged.

Don’t miss:  Videocon up 15%; consortium discovers petroleum in Brazil

The market seems to be unmoved as the central bank keeps repo rates unchanged but cuts SLR by 50 basis points to 21.5 percent. The Sensex is up 9.22 points at 29131.49 and the Nifty is up 5.05 points at 8802.45.

About 1275 shares have advanced, 975 shares declined, and 241 shares are unchanged.

A CNBC-TV18 poll of the bankers and economists suggested only 10 percent of the respondents are still looking forward to another rate cut of 25 bps, but the majority believed the rates will remain unchanged this time.

Oil futures continued to firm adding to gains of more than 11 percent in the prior two sessions, but persistent worries over China’s demand outlook capped prices.
Some investors are betting a bottom has formed to the seven-month long rout on the market, with signs that a fall-off in drilling activity into US shale deposits has raised concerns about future production.

OPEC delegates, though, said prices may stay depressed until summer due to weak seasonal demand even as Saudi Arabia’s strategy of curbing the output growth of rival producers shows results.

10:00

Sensex, Nifty volatile; Oil & FMCG lead, HDFC twins drag

Shares of ITC, Tata Motors, ONGC, HUL, Bharti Airtel and Sesa Sterlite gained 1-2 percent. However, HDFC, Infosys, Axis Bank, Bajaj Auto, Mahindra & Mahindra, Dr Reddy’s Labs and Hindalco Industries declined 1-3 percent.

Read More »

09:15

Nifty above 8800, Sensex firm ahead of RBI policy; SBI upRead More »

Sesa Sterlite, SBI, GAIL, Axis Bank and ONGC are top gainers in the Sensex.

Read More »

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...