Morning Stock Market News & Trading Tips

The market is celebrating RBI’s surprise rate cut in style. The Sensex is up 566.65 points or 2 percent at 27913.47, after gaining almost 600 points in opening.

The Nifty is up 147.65 points or 1.7 percent at 8425.20. About 574 shares have advanced, 84 shares declined, and 228 shares are unchanged. All banks are up while SBI gained 5 percent.

The BSE Sensex and Nifty surged today by nearly 2 per cent after the Reserve Bank of India in a surprise move cut its main lending rate (repo rate) by 25 basis points.
The Sensex gained as much as 600 points to 27,947 and the 50-share Nifty jumped over 2 per cent above the 8,450 mark.
Rate-sensitive stocks like banks, auto, realty surged, pushing the benchmark indices higher.

The Reserve Bank of India surprised the market by cutting repo rate by 25 basis points to 7.75 percent from 8 percent, with immediate effect, ahead of its policy review on February 3.

The Indian rupee gained 30 paise in the early trade. It has opened at 61.88 per dollar versus 62.18 Wednesday.

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·         BUY WOCKHARDT (LCP-1035.5) ABOVE 1041 TG-1050-1065

·         BUY JET AIRWAYS (LCP 464.75) ABOVE 465 TG-469-475

·         BUY YES BANK (LCP-886.55) ABOVE 888 TG 895-910

·         ULTRATECH CEMENT (LCP 2908) ABOVE 2910 TG-2922-2945

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