Wednesday, 19 December 2012

Sensex gains 120 points

Sensex gains 120 points
Clean Media Correspondent

MUMBAI, DEC 18 (CMC) The Nifty and the Sensex ended marginally in the green despite no action on the interest rate front by the Reserve Bank of India.

The Nifty closed at 5897 up 39 points while the Sensex closed at 19365 up 120 points.

Market-men are however expecting the central bank to cut rates in the first quarter of next calendar year.

“A shift in RBI’s Policy stance from inflation-targeting to supporting growth stands out in today’s mid-quarter policy review. This makes us believe that RBI has increasingly turned dovish and will reduce the repo rate in Q4FY2013. However, a rise in inflation in the coming months may make this wait longer,” said Dr. Nirakar Pradhan, CIO, Future Generali Life Insurance.

Volatility was down three per cent and the volatility index, India Vix closed at 14.44.

BHEL, Bharti Airtel, Tata Steel, Hindalco and JP associates were the top five Nifty gainers while Maruti, Dr Reddy, Ranbaxy, Bajaj Auto and RIL were the top losers.

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