The Indian Market made a smart turnaround soon after the announcement of the monetary policy by the RBI in which it kept all the key interest rates unchanged but it raised the Cash Reserve Ratio by 25 basis point As per this, the scheduled banks required to maintain CRR of 8.25% with effect from the fortnight beginning May 24, 2008. But earlier there are rumors of hike in repo rate and revere repo rate but RBI beat all the expectations by keeping these rates unchanged. This led to the boosting of the sentiments among the investors and heavy buying was witnessed from the realty, metal and bakex indices baskets. In this review, RBI expects the economy to grew by 8-8.5% in 2008-09 also inflation remained a serious concern and as per RBI it would be brought down to around 5.5% in 2008-09 and the preference would be to bring it close to 5%. Though the market opened on a firm note but pared all its gains before the announcement of the policy but gained he momentum soon after the declaration of monetary policy review. The market breadth was strong as 1588 stocks closed in green while 1121 stocks closed in red.
The BSE Sensex closed higher by 362.50 points at 17,378.46 and NSE Nifty closed up by 105.85 points to close at 5,195.50. The BSE Mid Caps closed up by 79.55 points at 7,146.95 and Small Cap grew by 75.49 points to close at 8,785.31.
Major losers from the BSE are Grasim inds (6.16%), Welspun Guj (5.17%), India Infoline (4.01%), Idea Cellular (3.67%), Spice Tele (3.58%), United SPR (3.33%), Akruti City (3.12%), Bharti Airtel (2.79%).
Major gainers from the BSE are Bombay Dyeing (13.27%), Sesa Goa (12.56%), Tech Mahindra (10.51%), Titan inds (9.41%), DLF (8.57%), Satyam Comp (8.22%), Unitech (8.18%).
The Realty index increased drastically by 482.17 points to close at 8,650.24. Scrips that jumped are DLF (8.57%), Unitech (8.18%), HDIL (6.61%), Ansal Infra (5.72%), Parsvanath (3.60%), Omaxe (3.06%), Penland (2.86%), Mahindra Life (2.77%) and Sobha Dev (3.45%).
The Metal index surged 568.75 points to close at 16,192.97. Major gainers are Sesa Goa (12.56%), Hindalco inds (6.44%), Sterlite inds (4.77%), Nalco (4.37%), Tata Steel (4.01%), Bhushan Steel (2.72%), Ispat inds (2.64%) and Jindal Steel (2.31%).
The Capital Goods index closed up by 176.13 points at 13,931.17. Scrips that gained are Havells India (4.89%), Punj Lloyd (3.87%), Bharat Elec (3.27%), Suzlon Energy (2.93%), L&T (2.09%), Praj inds (1.61%) and BHEL (1.29%).
The Bankex index grew by 147.91 points to close at 8,964.75. Gainers are SBI (3.27%), Axis bank (2.74%), Oriental bank (2.65%), Canara bank (2.41%), Federal bank (2.38%), PNB (2.04%), Yes bank (1.91%) and Union bank (1.33%).
The Oil & Gas index closed higher by 231.24 points at 11,661.26. Scrips that grew are RPL (4.28%), Essar Oil (3.11%), RNRL (2.59%), Reliance inds (2.35%), BPCL (1.36%), IOCL (0.76%).
The BSE Sensex closed higher by 362.50 points at 17,378.46 and NSE Nifty closed up by 105.85 points to close at 5,195.50. The BSE Mid Caps closed up by 79.55 points at 7,146.95 and Small Cap grew by 75.49 points to close at 8,785.31.
Major losers from the BSE are Grasim inds (6.16%), Welspun Guj (5.17%), India Infoline (4.01%), Idea Cellular (3.67%), Spice Tele (3.58%), United SPR (3.33%), Akruti City (3.12%), Bharti Airtel (2.79%).
Major gainers from the BSE are Bombay Dyeing (13.27%), Sesa Goa (12.56%), Tech Mahindra (10.51%), Titan inds (9.41%), DLF (8.57%), Satyam Comp (8.22%), Unitech (8.18%).
The Realty index increased drastically by 482.17 points to close at 8,650.24. Scrips that jumped are DLF (8.57%), Unitech (8.18%), HDIL (6.61%), Ansal Infra (5.72%), Parsvanath (3.60%), Omaxe (3.06%), Penland (2.86%), Mahindra Life (2.77%) and Sobha Dev (3.45%).
The Metal index surged 568.75 points to close at 16,192.97. Major gainers are Sesa Goa (12.56%), Hindalco inds (6.44%), Sterlite inds (4.77%), Nalco (4.37%), Tata Steel (4.01%), Bhushan Steel (2.72%), Ispat inds (2.64%) and Jindal Steel (2.31%).
The Capital Goods index closed up by 176.13 points at 13,931.17. Scrips that gained are Havells India (4.89%), Punj Lloyd (3.87%), Bharat Elec (3.27%), Suzlon Energy (2.93%), L&T (2.09%), Praj inds (1.61%) and BHEL (1.29%).
The Bankex index grew by 147.91 points to close at 8,964.75. Gainers are SBI (3.27%), Axis bank (2.74%), Oriental bank (2.65%), Canara bank (2.41%), Federal bank (2.38%), PNB (2.04%), Yes bank (1.91%) and Union bank (1.33%).
The Oil & Gas index closed higher by 231.24 points at 11,661.26. Scrips that grew are RPL (4.28%), Essar Oil (3.11%), RNRL (2.59%), Reliance inds (2.35%), BPCL (1.36%), IOCL (0.76%).
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