Live Stock Market Updates: Markets hold gains after RBI MPC keeps repo rate unchanged
India Infoline News Service | Mumbai | October 04, 2017 15:00 IST
Markets have surged in the closing hour on Wednesday after the RBI’s monetary policy committee has kept the benchmark repo rate unchanged in its fourth bi-monthly monetary policy statement.
The index may have strong support around 9770 while 50-DMA of 9946 will act as resistance on the upside. Bank Nifty index has moved to high point of the day to touch its intraday high of 24,230. The index faces resistance around 24350 while 24000 will act as support on the downside.
Pharma stocks have been gaining on the bourses in mid-market hours. Sun Pharma is top Nifty gainer trading higher by 3.24% at Rs 518.95 per share.
At 3 PM, the S&P BSE Sensex is up 234 points at 31,731, while Nifty is up by 70 points at 9,930. A total of 29 stocks registered a fresh 52-week high in trade today, while 33 stocks touched a new 52-week low on the NSE. There are 1,005 advances, 641 declines and 318 unchanged stocks on NSE reflecting positive sentiments floating in the market.
The BSE Mid-cap Index is trading up 0.51% at 15,633, while BSE Small-cap Index is trading up 0.81% at 16,323 level.
Some buying activity is seen in Healthcare, Capital Goods and Bank sectors, while Telecom and IT is showing weakness on BSE.
Sun Pharma, Power Grid, ITC, Aurobindo Pharma and Dr Reddy’s are among the gainers, whereas Coal India, Bharti Airtel, ICICI Bank, Eicher Motors and Axis Bank are losing on the NSE.
The INDIA VIX is down 6.28% at 11.67.