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Sensex Ends At 20,929.01, Up 358.73 Points After RBI Policy

Tuesday, October 29, 2013   |    2 Comments
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Mumbai: The BSE benchmark Sensex recovered by nearly 358 points to close at 20929.01 amid the RBI hiking the repo rate by 0.25 percent and easing liquidity curbs by cutting MSF rate by same margin in its policy announcement.

The 30-share index, which fell over 38 points in the morning trade, rebounded 358 points by the end of the day.

In similar fashion, the wide-based National Stock Exchange index Nifty was trading 34.80 points, or 0.57 percent, higher at 6,135.10 points after falling 8.45 points in early trade.

Sentiments turned better after the RBI cuts Marginal Standing Facility (MSF) rate by 0.25 percent to 8.75 percent which would bring down the cost of short-term funds for banks.

The repo rate or the short-term lending rate has been increased by 25 basis points to 7.75 percent and the economic growth forecast lowered for this fiscal to 5 percent from 5.5 percent in RBI's policy announcement.

Among banking stocks, ICICI Bank gained 2.28 percent to Rs.1,037.70, while State Bank of India was up by 0.87 percent to Rs.1,690.85.

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Source: PTI
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Reader's comments(2)
1: The markets are at its peak now , they will coninue to make higher tops and higher bottoms for some more time.
The last time it had peaked was in 2010 , nearly after 3 years taking into consideration the growth of Industry both in sales and profits during past 3 years should take it to crossing 30,000 mark for sensex right ?
May not be that bullish due to internal problems , slowing growth , higher deficits ,Inflation,lower confidence of investment, higher interest rates etc. Still the Sensex will scale to some where in between 23,500 to 26,500 levels which will be 15% to 30% more than current levels.
The High beta now will soar high if the markets remain bullish or go side ways. Adani enterprises,Andhra bank, Axis bank,Bank baroda, BEL,Cairn,Canara bank,Divis Lab,Gati,GMR Infra, GVKPIL, Hind Copper, HGS ,ICICI bank, Indraprsta Gas Ltd,Karnataka bank,L
Posted by:KNkamath - 30 Oct, 2013
2: The markets are at its peak now , they will coninue to make higher tops and higher bottoms for some more time.
The last time it had peaked was in 2010 , nearly after 3 years taking into consideration the growth of Industry both in sales and profits during past 3 years should take it to crossing 30,000 mark for sensex right ?
May not be that bullish due to internal problems , slowing growth , higher deficits ,Inflation,lower confidence of investment, higher interest rates etc. Still the Sensex willscale to some where in between 23,500 to 26,500 levels which will be 15% to 30% more than current levels.
The High beta now will soar high if the markets remain bullish or go side ways. Adani enterprises,Andhra bank, Axis bank,Bank baroda, BEL,Cairn,Canara bank,Divis Lab,Gati,GMR Infra, GVKPIL, Hind Copper, HGS ,ICICI bank, Indraprsta Gas Ltd,Karnataka bank,L
Posted by:KNkamath - 30 Oct, 2013
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