RBI Keeps Rates Unchanged; Nifty Hovering Around 9900

Share Market News 04 October 2017

The market opened positive due positive cues from the global markets but traded in very narrow range as the market was waiting for RBI policy. RBI has maintained status quo on interest rate because of increased inflation. Pharma, oil, gas and FMCG sectors were the top gainers in the market. Sensex gained 174.33 points to 31671.71, Nifty gained 55.40 points to 9914.90.

Top Gainers

Reliance by 3.21% to 824, Sun Pharma by 3.05% to 518, Aurobindo
Pharma by 3.01% to 728.20, Dr. Reddy by 2.42% to 2392 and HPCL by
2.36 to 444.85.

Top Losers

Bharti Airtel by 2.07% to 376.70, ICICI Bank by 0.86% to 276,HDFC Bank by 0.82% to 1794, Eicher Motors by 0.79% to 30900 and Axis Bank by 0.76% to 505.80.

Analysis of Top Gainer and Loser

Reliance is the top gainer in today's market as it is going to purchase crude oil cargoes from the United States for the first time because of lower prices while the stock price was at a support level.

Bharti Airtel is the top loser in today's market as profit booking was seen in the stock as the company is set to hit the market soon with ultra-cheap handsets under Rs.2,000 and it is going to put pressure on the balance sheet of the company for the short term.

Key Market News

The Reserve Bank of India maintained an unchanged stance on policy rates (Repo rate) at 6%, but the central bank has decreased the SLR (Statutory Liquidity Ratio) by 50 bps to 19.5% from 20%. But cautious news in this policy was the decreased real GVA growth for 2017-18 to 6.7% from 7.3% and increased inflation forecast to 4.2-4.6% for the second half due to increasing global oil prices and uncertainty over Kharif output.

There is a positive news on energy sector companies as according to International Energy Agency (IEA) India's renewable energy capacity will be more than double by 2022 as various measures have been taken by the government.

Stocks to Watch

Reliance Industries is on the upside while Dish TV India is on the downside.

Reliance Industries is currently trading at Rs.818.85, up by Rs.20.50 or 2.57% from its previous closing of Rs.798.35 on the BSE. The scrip opened at Rs.799.20 and has touched a high and low of Rs.824.95 and Rs.795.60. respectively. So far 8643924(NSE) shares were traded on the counter. The current market cap of the company is Rs.532843 Crore. The BSE group stock has touched a 52 week high of Rs.872.50 on 20-September-2017 and a 52 week low of Rs.465 on 09-November-2016.

Dish TV India is currently trading at Rs.70.75, down by Rs.3.10 or 4.20% from its previous closing of Rs.73.85 on the NSE. The scrip opened at Rs.73.95 and has touched a high and low of Rs.73.95 and Rs.70.10 respectively. So far 6132727(NSE) shares were traded on the counter. The current market cap of the company is Rs.7552 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.111 On 27-March-2017 and a 52 week low of Rs.69.65 on 11-August-2017.