Tuesday, 29 October 2013

Daily Market Round-up

The markets rallied sharply in the second half of the trading day after the Central Bank lowered the MSF rate by 25 basis points, and raised the repo rate in the equal measure.

Earlier in the day, the Sensex has touched a low of 20,494 as nervousness gripped the markets on what the RBI action would be.

However, post the second quarterly policy review, the markets firmed up and gained considerable ground as the day progressed.

The Sensex zoomed to a high of 20,953 - up 460 points from the day's low. The BSE index finally ended the day with a gain of 359 points at 20,929.

The BSE Bankex soared 4.4 per cent to 12,831. The BSE Realty and Auto indices rallied 2.5 per cent each to 1,328 and 12,077, respectively.

The market breadth was positive - out of 2,557 stocks traded on the BSE, 1,293 advanced and 1,093 declined today.

Among the index stocks - Maruti zoomed over 8 per cent to Rs 1,637. ICICI Bank soared 6 per cent to Rs 1,075.

Tata Steel surged over 4 per cent to Rs 326. Mahindra & Mahindra and SBI rallied around 3.7 per cent each to Rs 900 and Rs 1,737, respectively.

Hero MotoCorp, Hindalco, HDFC Bank, Sesa Sterlite, Hindustan Unilever and Tata Power were the other major gainers.

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