Indian equity market rebound on the back of surprise move of RBI on rate cut. 50 shares index surged 216 points to end the day inch closer to 8500 at 8494.15 up by 2.62% while Sensex soars more than 725 points to reclaim its crucial psychological level of 28000, and wrapped the session at 28,075.55 up by 2.66%.

The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on early morning, making its first reduction since May 2013, as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit.

The rupee also jumped by over 22 paise or nearly 0.35 per cent to trade at 61.98 against the dollar today.

Reacting to the news, shares in rate sensitive sectors such as banks, realty, capital goods surged in trade after the RBI action. CNX REALTY top was the top gainer among the sectorial indices,surging 8.32% followed by CNX FINANCE (4.52%), CNX PSU BANK (4.48%) and BANK NIFTY (3.40%). All other sectorial indices ended the day in positive zone.

Meanwhile USDINR Pair gained after 5 days downward momentum and ended the day at 62.18 surged by 1.15% or 0.035 paisa.

Market Breath remained positive for the day with 785 shares ended in green, 423 in red and 33 remain unchanged.

Out of 50 stocks of Nifty 44 stocks advanced, 5 declined and 1 remained same as previous close.

Top 5 Nifty Gainers: DLF (9.19%), HDFC (6.58%), IDFC (6.10%), ULTRA CEMENT (5.95%) and POWERGRID (4.92%) led the gainers list.

Top 5 Nifty Losers: BHEL (-0.78%), TECH MAHINDRA (-0.61%), ASIAN PAINTS (-0.55%), HINDALCO (-0.46%), and HUL (-0.11%)

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Witnessing the wide movement Indian equity market ended the day in negative territory led by declines in ITC on worries the government may ban sale of loose cigarettes, while metal stocks slumped, tracking falls in commodities on global growth concerns. The broad-based index Nifty slumped by 21.85 points and closed at 8,277.55 down 0.26%, while Sensex, loosing 78 points wrapped up the session at 27,346.82 mark down 0.29%.

Jet Airways shares tanked after the carrier said its promoter chairman Naresh Goyal has pledged his entire (51 per cent) shareholding, valued at over Rs 2,600 crore.with state-run Punjab National Bank.

The government reported Wholesale Price Index (WPI) inflation data for the month of December which rose marginally to 0.11% versus 0% in November.

Infosys CEO Vishal Sikka met Prime Minister Narendra Modi and disclosed that his company will spend $250 million (over Rs 1,500 crore) to fund innovations in software and services in India.

Among the sectoral indices CNX Metal was the worst performer plunging -3.49% while CNX IT surged almost 1% after the PM MOdi and Infy chief Vishal Sikka Meeting.

Meanwhile USDINR Pair gained after 5 days downward momentum and ended the day at 62.18 surged by 1.15% or 0.035 paisa.

Market Breath remained negative for the day with 730 shares ended in red, 441 in green and 12 remain unchanged.

Out of 50 stocks of Nifty 20 stocks advanced, 29 declined and 1 remained same as previous close.

Top 5 Nifty Gainers: BHEL (5.17%), HUL (5.16%), ULTRA CEMENT (3.21%), ACC (2.93%) and INFOSYS (1.92%)

Top 5 Nifty Losers: SESA STERLITE (-8.63%), HINDALCO (-6.36%), TATA STEEL (-3.97%), ITC (-3.24%), and BPCL (-2.53%)

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After trading on a negative terrain in most of the session Indian equity market bounce back at the late session and end the day with handsome gain. the broad-based index Nifty hold above the 8300 level and ended the day by plunging 38.50 points or 0.46% at 8323. Sensex also surged by 126.89 points and wrapped up the session at 27,585.27, up by 0.46%.

Coal India was the top Nifty loser, down 4.6 per cent on speculation that the government will soon come out with a date for 10 per cent stake sale in the PSU major.

In the Currency spot market, the rupee gained against dollar by 0.3% or 0.19 paisa and wrapped up the market at 62.14.

Among the sectoral indices CNX PSU BANK hold the baton and marched ahead of all gaining by 1.51%, chased by CNX IT (1.26%) and CNX FMCG (1.14%). While CNX METAL was the worst performer by plunging -1.69%.

Market breadth remained Negative at the close today as 738 stocks rose against 490 decline while 41 remained unchanged.

Out of 50 stocks of Nifty, 26 advanced, 23 declined and 1 remain unchanged.

Top Five Nifty gainers: INDUSIND led the Nifty Gainers list and registered 4.24% gain followed HUL (3.98%), TECH MAHINDRA (2.91%), L&T (2.18%) and HCL (1.91%).

Top Five Nifty Losers: COAL INDIA was the biggest loser and fell by -4.28% followed by CAIRN (-2.96%), HINDALCO (-2.58%), JINDAL STEEL (-2.52%) and BHARTI AIRTEL (-1.98%).

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