Sensex trading flat; Maruti, Adani Ports stocks spurt

Last updated: April 5, 2017

The Hindu Business line file photo

Mumbai, India (BBN) - The benchmark BSE Sensex was trading flat after hitting 30,000-mark in early trade as investors turned cautious ahead of RBI's Monetary Policy Committee meet later in the day.
At 2:15pm, the 30-share BSE index Sensex was up 25.52 points or 0.09 per cent at 29,935.74 and the 50-share NSE index Nifty was up 18.6 points or 0.2 per cent at 9,256.45, reports The Hindu Business Line.
Among BSE sectoral indices, realty index was the star-performer and was up 4.19 per cent, followed by consumer durables 2.56 per cent, capital goods 1.44 per cent and infrastructure 1.04 per cent.
On the other hand, IT index was down 0.95 per cent, TECk 0.33 per cent and FMCG 0.29 per cent.
Top five Sensex gainers were Maruti (+4.29 per cent), Adani Ports (+3.73 per cent), Reliance (+2.46 per cent), L&T (+2.04 per cent) and Tata Steel (+1.685 per cent), while the major losers were HDFC (-2.98 per cent), Coal India (-1.56 per cent), Infosys (-1.5 per cent), Asian Paints (-1.11 per cent) and ITC (-1.03 per cent).
EARLY TRADE
The BSE Sensex breached 30,000-mark and the NSE Nifty hit a lifetime high of 9,264.95 in the opening trade on sustained buying by retail investors amid increased foreign fund inflows and positive Asian cues.
However, the benchmark failed to sustain the 30,000 level and slipped into the negative territory ahead of RBI’s Monetary Policy Committee meet later in the day.
The 30-share index crossed the 30,000-mark by surging 97.26 points or 0.32 per cent to trade at 30,007.48, a level last seen on March 4, 2015 when it hit an intra-day high of 30,024.74.
Similarly, the National Stock Exchange index Nifty continued its record-setting spree by gaining another 27.10 points or 0.29 per cent, to trade at a new high of 9,264.95.
The gauge had rallied by 289.72 points in previous sessions on Monday.
RBI MONETARY POLICY
The monetary policy committee of the Reserve Bank of India (RBI) is likely to leave the repo rate at 6.25 per cent, where it has been since October, a Reuters poll found.
However, investors are expecting RBI to announce measures to drain the Rs 4 lakh crore that has accumulated in the banking system in March, double as compared with January.
“The market is moving slightly ahead of time, so it is taking a small breather.
One might see some profit-booking as well,” said Deven Choksey, managing director, K R Choksey Investment Managers.
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