Sensex
up 300 pts; ICICI, HDFC, ITC, Tata Motors lead :-
The Intraday market continued to see buying interest, rising 1 percent following a surprise repo rate cut. Banking & financials, auto, realty and capital goods supported the market. The Sensex rose 308.80 points to 29902.53 and the Nifty climbed 83.25 points to 9079.50. Two shares advanced for every share declining on the Bombay Stock Exchange.
Bank Nifty jumped 2 percent. ICICI Bank, HDFC Bank, State Bank of India and Axis Bank gained 1-2 percent.Tata Motors topped the buying list on Sensex, up 2.4 percent as US sales of Jaguar Land Rover increased 14 percent year-on-year to 6,327 units in February. FMCG major ITC also led support to the market, up 2 percent.
Record high: Sensex hits 30000, Nifty at 9100 on RBI move :-
The Reserve Bank of India signaled that it was convinced by the fiscal consolidation measures announced in the Budget. The RBI has kept the cash reserve ratio (CRR) unchanged at 4 percent.The RBI's surprise rate cut of 25 basis points (bps) powers the Bulls with the Sensex scaling 30000.
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The Intraday market continued to see buying interest, rising 1 percent following a surprise repo rate cut. Banking & financials, auto, realty and capital goods supported the market. The Sensex rose 308.80 points to 29902.53 and the Nifty climbed 83.25 points to 9079.50. Two shares advanced for every share declining on the Bombay Stock Exchange.
Bank Nifty jumped 2 percent. ICICI Bank, HDFC Bank, State Bank of India and Axis Bank gained 1-2 percent.Tata Motors topped the buying list on Sensex, up 2.4 percent as US sales of Jaguar Land Rover increased 14 percent year-on-year to 6,327 units in February. FMCG major ITC also led support to the market, up 2 percent.
Record high: Sensex hits 30000, Nifty at 9100 on RBI move :-
The Reserve Bank of India signaled that it was convinced by the fiscal consolidation measures announced in the Budget. The RBI has kept the cash reserve ratio (CRR) unchanged at 4 percent.The RBI's surprise rate cut of 25 basis points (bps) powers the Bulls with the Sensex scaling 30000.
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