Market Update- Equity benchmarks closed 1 percent lower Monday as investors cautious ahead of RBI policy. The Sensex lost 246.66 points to 25616.84 and the Nifty fell 72.80 points to 7795.70.
- About 1149 shares have advanced, 1579 shares declined, and 127 shares are unchanged on the BSE. Tata Motors, Vedanta, Sun Pharma, Infosys, Coal India and UltraTech Cement plunged 3-6 percent. However, Dr Reddy's Labs outperformed, up 5.5 percent. Lupin, HUL, Idea Cellular, Adani Ports and YES Bank gained 1-2 percent.
- Hold DLF (Rs 128) with a stop loss at Rs 121 for near term. On the upside, the stock may rise to Rs 136 - Rs 140 in the near term.
- After moving in a tight band amid alternate bouts of buying and selling, the market has plunged a bit sharply in late afternoon trade, with several front line stocks reeling under a fresh bout of selling pressure.
- A weak start in European markets and caution ahead of tomorrow's monetary policy appear to be prompting investors to exit counters.
- The Sensex is now down 217.05 points or 0.8% at 25,646.45. The Nifty is down 69.25 points or 0.88% at 7799.25.
Indian Rupee Update
The Indian rupee has opened marginally higher by 5 paise
at 66.11 per dollar on Monday versus 66.16 Thursday
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