Market at 7-mnth high, Nifty eyes 8300 post RBI policy; ITC up 2%

The market is on fire as banks lend strong support. The Sensex is up 261.92 points or 0.9 percent at 27039.37, and the Nifty up 81.85 points or 1 percent at 8282.90. 

 ICICI Bank, SBI, HUL, Sun Pharma and ITC are top gainers. The Finance Ministry said the RBI monetary policy is broadly in line with government's expectations on growth and inflation.

 In its second bi-monthly policy review for the current fiscal, RBI maintained status quo on interest rate, while pegging economic growth at 7.6 percent and retail inflation target at 5 percent for January 2017. 

Domestic conditions for growth are improving gradually, mainly driven by consumption demand, which is expected to strengthen with a normal monsoon and the implementation of the 7th Pay Commission award, Reserve Bank of India said.

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Sensex, Nifty continue to fall; Apr WPI inflation rises to 0.34%

Equity benchmarks continued to see selling pressure in noon trade with the Sensex falling 89.10 points to 25400.47 and the Nifty declining 28.45 points to 7786.45.

The market breadth was also weak as about 1210 shares declined against 1035 advancing shares on Bombay Stock Exchange.

WPI inflation in April came in positive territory for the first time in last 18 months, rising to 0.34 percent compared to negative 0.85 percent in preceding month.

 ICICI Bank, SBI and Axis Bank extended losses, falling 2-4 percent on fears that RBI may hold rates after rise in WPI inflation.

Bharti Airtel, HUL, ONGC, Adani Ports and Hero Motocorp were other losers with 1-2 percent losses while Dr Reddy's Labs continued to outperform with 3 percent rally.

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LIVE STOCK MARKET FUTURE TRADING TIPS FOR 22 JANUARY 2016

The market opened on a confident note Friday. The Sensex is up 218.34 points or 0.9 percent at 24180.55 and the Nifty is up 78.90 points or 1 percent at 7355.70.

BHEL, Axis Bank, Axis Bank, ICICI Bank, Tata Steel and Hindalco are top gainers in the Sensex. InterGlobe Aviation is down 6 percent while Idea slips 3 percent post December quarter results.

The Indian rupee recovered in the early trade post breaching 68 level in the yesterday's session. It opened higher by 24 paise at 67.78 per dollar versus 68.02 Thursday.

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Sensex, Nifty under pressure; Tata Motors, L&T, SBI gain

Equity benchmarks continued to be lower in morning trade but the broader markets outperformed with the BSE Midcap and Smallcap indices rising 0.4 percent each.

The 30-share BSE Sensex declined 55.67 points to 26061.87 and the 50-share NSE Nifty fell 19.75 points to 7926.60 amid thin volumes. The market breadth was positive as two shares advanced for every share declining on the Bombay Stock Exchange.

Tata Motors topped buying list on the Sensex, up more than 1 percent ahead of December sales data. L&T, SBI, Lupin and Adani Ports gained more than half a percent.

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INDIAN STOCK STARTED WITH TEPID NOTE

Day after Diwali, the market has opened on a tepid note. The Sensex has opened at 25647.03, down 219.92 points or 0.8 percent and the Nifty is at 7762.40, down 66 points or 0.8 percent.

ADVERTISING Bharti Airtel, ONGC, ITC, Lupin and Vedanta are top laggards in the Sensex.

Sun Pharma, Coal India, Axis Bank, Tata Motors and L&T are top gainers in the Sensex.

 The Indian rupee opened higher by 13 paise at 66.18 per dollar against Tuesday's close of 66.31.

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