Today’s the day. All eyes in the Indian stock markets are trained on the Reserve Bank of India’s (RBI) bi-monthly monetary policy review.
NSE Nifty closed in red at 8768.30 levels, down by 32.75 points or 0.37%, while BSE Sensex closed at 28335.16 levels, down by 104.12 points or 0.37%.
Heavy electrical equipment manufacturer, Bharat Heavy Electricals Ltd., has surged to Rs 154.9 per share, up by Rs 10.9 per share or 7.56% after announcement of its standalone financial results for the quarter ended on December 31, 2016. The stock witnessed an upward movement in closing hours of Tuesday’s trading session. BHEL secured the top position in the bunch of Nifty 50 stocks.
Larsen & Toubro Ltd., is the top gainer in the Sensex, closing at Rs 1502 per share, up by Rs 17.05 per share or 1.15%.
Auto stocks like Bajaj-Auto, Tata Motors, Hero MotoCorp and M&M remained weak throughout the day, eventually dragging the Sensex down.
Nifty Bank closed at 20327.25 levels, down by 44.35 points or 0.22%. Bank stocks remained calm with some positive bias ahead of RBI’s monetary policy.
Tata Motors Ltd., closed at Rs 507.15 per share, down by 3.46%.
BSE IT closed in green along with BSE Consumer Durables and BSE Capital Goods. Firstsource Solutions Ltd., was the top gainer in the BSE IT index. The stock closed at Rs 43.4 per share, up by Rs 3.85 per share or 9.73%.
BSE Metal and BSE Realty closed in red showing weakness.
Infosys: – The stock gained traction in the closing hours of the market on Tuesday owing to the buyback speculation to the tune of Rs 12000 cr. Infosys has Rs 38000 cr as cash on books.
CEAT Limited plunged to Rs 1136 per share, down by Rs 40.65 per share or 3.45% after the announcement of its Q3 results.
Sadbhav Infrastructure Project Ltd., jumped to Rs 106.8 per share, up by Rs 6.3 per share or 6.26% after it announced its standalone and consolidated financial results for the quarter ended on December 31, 2016.
Future Retail Ltd., surged to its fresh 52-week high of Rs 218.35 per share, up by Rs 29.35 per share or 15.52% after the announcement of its financial results for the quarter ended on December 31, 2016.
The broader markets also closed moderately lower on negative breadth but outperformed benchmarks. About 1562 shares declined against 1330 advancing shares on the BSE.
The rupee was trading at 67.40 per US dollar.
Top 5 Nifty Gainers: Hindalco Industries (2.37%), Tata steel (1.66%), Cipla (1.41%), BPCL (1.17%), and Tech Mahindra Ltd (1.08%).
Top 5 Nifty Losers: ITC (-1.06%), Axis Bank (-0.92%), Infosys Ltd. (-0.56%), Dr. Reddys Lab (-0.56%) and HDFC (-0.45%)
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