ECONOMY ANALYSIS
- Nifty ends below 8000; Sun Pharma & ITC up, Bankex in red
- Rajan keeps rates on hold, says 6% inflation target for 2016 at risk
- HDIL up 5%, promoters revoke pledged shares in IL&FS Trust
- PC Jeweller surges 9%; bets on e-tailing, joins Flipkart
- Just Dial gets land for IT park in Karnataka
- Sterlite Technologies rallies on JV with Japanese company
MARKET ANALYSIS
- After a roller coaster ride, the equity benchmarks managed to close with marginal gains on Tuesday amid announcement of RBI policy. Indices climbed nearly a percent intraday before erasing gains in last couple of hours of trade today.
- The 30-share BSE Sensex rose 33.40 points to close at 26630.51 after hitting an intraday high of 26851.33 and low of 26481.31. The 50-share NSE Nifty reclaimed the 8000 level but failed to hold the same, up 5.90 points to end the day at 7964.80.
- The broader markets too saw cut in gains, ending with 0.1 percent upmove but the market breadth was negative. About 1370 shares advanced while 1527 shares declined on the Bombay Stock Exchange. Experts believe the consolidation may continue in near term due to lack of triggers. As the RBI event is behind us, the market will closely watch July-September quarter earnings that will kick off with Infosys’ numbers on October 10, say experts.
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