Equity benchmarks continued to trade higher with moderate gains ahead of the outcome of monetary policy committee. All economists say they expect the RBI to cut repo rate by 25 basis points but if more than that comes then that would be bonus points. “Against the backdrop of the current economic scenario, particularly the impact of the recent demonetization of high denomination currency in India, our expectation is that there would be a rate cut of 25 bps tomorrow. Also we expect another 25 bps rate cut for the remaining fiscal,” CARE Ratings said. The 30-share BSE Sensex was up 46.10 points at 26438.86 and the 50-share NSE Nifty rose 15.50 points to 8158.65 while the broader markets marginally outperformed benchmarks. About two shares advanced for every share falling on the Bombay Stock Exchange. Banks and auto stocks supported the market on hopes that the policy is likely to be on expected lines. HDFC gained for the second consecutive session, up 1 percent followed by HDFC Bank, ICICI Bank, SBI and Maruti Suzuki. Sun Pharma extended losses as the day progressed, falling 4 percent. TCS, ITC, Axis Bank, Lupin and Dr Reddy’s Labs were other losers.
Today’s Top Gainers : Adani Ports, HDFC, Bharti Airtel, Hero Motocorp and NTPC
Today’s Top Losers : Sun Pharma, TCS, Lupin, Axis Bank and ITC
Best Shares To Buy Today
- Future Group has signed an agreement for rice trading in South India. Future Group has made a joint venture with LT Foods and Genoa Rice Mills. Future Group will have 50% stake in Genoa Rice Mills.
- EIL has achieved the order book target in the first quarter. Twice growth is expected from the order book’s target for next year.
- The joint venture of IL & FS Transport has bidden lowest for the construction of Chennai Metro Station. The joint venture has bidden 371.2 crore rupees for the project.
- Petronet LNG is preparing to plant LNG Fuel Stations. Petronet LNG is talking with IOC, HPCL and BPCL regarding the LNG Fuel Station. Petronet LNG is targeting to supply LNG on 1000 retail outlets in next 3 years.
- On year by year basis, the production of NMDC has increased by 14.8% to 20.1 metric ton in April November. Where the sales of NMDC has increased by 27.5% in April- November.