Sensex trips 122 points ahead of RBI policy

Sensex trips 122 points ahead of RBI policyā€¯

Mumbai, Apr 6 The NSE 50-share Nifty pared its intra-day losses to end nearly steady after the Reserve Bank kept its key policy rate unchanged in line with market expectations.

The S&P BSE Sensex hit as high as 30,007 in early trade before paring gains to end the session up 64.02 points or 0.21 percent at 29,974.24.

However, in pre-market opening, Sensex touched 29,996-mark and Nifty a new high of 9,264-level.

The RBI left the short-term lending rate or repo rate unchanged at 6.25 per cent, and the cash reserve ratio static at 4 per cent. The policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 percent.

Foreign institutional investors (FIIs) were net buyers in the equity segment worth Rs 1.42 billion on both BSE, NSE and MCX-SX on April 6, as per provisional data available at the BSE. A total of 17 scrips in the 30-share Sensex pack ended lower while 13 closed higher. With the meet underway, hopes of measures towards NPA resolution and excess liquidity extended banks' run, while other rate sensitive sectors also helping indices to record peaks.

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In contrast, the BSE market breadth was bullish - with 1,472 advances and 1,419 declines.

The total turnover fell to Rs 3,600.82 crore from yesterday's closing level of Rs 4,390.72 crore.

Besides, profit booking after Wednesday's gains, coupled with negative global cues, hampered the upward movement of the key indices. Federal Reserve minutes suggested the United States central bank was considering steps that could result in a further tightening of monetary policy. Japan's Nikkei 225 is trading in red, down by 1.39 per cent, Hang Seng down by 0.46 per cent while South Korea's Kospi was down by 0.52 per cent.

HDFC Securities said, "Indian equity markets are likely to open on a flat to negative note following Asian cues". Shanghai Composite Index gained 1.11 per cent.

Frankfurt's DAX 30 fell 0.41 per cent while Paris CAC 40 was down 0.07 per cent in their early deals.

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