Sensex up 52 points; Consumer durables, metal stocks shine
MUMBAI, MARCH 31:
The Sensex and the Nifty were trading marginally in the green with market-men getting circumspect ahead of RBI’s monetary policy review statement on Tuesday.
At 10.45 a.m., 30-share BSE index Sensex was up 51.71 points or 0.23 per cent at 22,391.68 and the 50-share NSE index Nifty was up 9 points or 0.13 per cent at 6,704.90.
Among BSE sectoral indices, consumer durables sector gained the most by 2.84 per cent, followed by metal 1.54 per cent and realty 1.4 per cent. On the other hand, IT index was down 0.79 per cent and TECk 0.32 per cent.
Bharti Airtel, Hindalco, Bajaj Auto, Sun Pharma and Tata Steel were the top five Sensex gainers, while the top five losers were Tata Power, GAIL, Dr Reddy's, Wipro and ONGC.
A report by Equentis Capital said: “Slowing inflation & positive IIP has increased the probability of rate cut from RBI in near term. RBI’s rate cut could lead the market and banking sector into a fresh buying zone.Auto stocks will be in focus as companies from this sector will start reporting sales volume data for March 2014 starting Tuesday, April 1, 2014. PSU OMCs (state-run oil marketing companies) will review the fuel prices on April 1, 2014 based on the average imported oil price in the previous fortnight.”
In the opening trade, the Sensex rose 124.89 points or 0.55 per cent to trade at an all-time high of 22,464.86, surpassing its previous intra-day record high of 22,363.97 reached on March 28.
Similarly, the 50-share NSE index Nifty too scaled a new high of 6,728.85 by gaining 32.95 points or 0.49 per cent.
Asian stocks rose, with the regional benchmark heading for its fourth straight daily gain, as consumer shares led advances.
Nikkei 225 rose 79.35 points or 0.54 per cent to 14,775.38, Hong Kong Hang Seng Index was up 39.27 points or 0.18 per cent at 22,104.80 and Shanghai Shenzhen CSI 300 Index was up 4.32 points or 0.2 per cent at 2,156.29.