Wednesday, 7 June 2017

Auto stocks cheer RBI policy outcome, zoom nearly 1%

Interest rate sensitive NSE Nifty Auto were trading higher by 0.69 per cent, 10,923.75 at around 03:03PM on Wednesday as RBI decided to not change the repo and the reverse repo rate from 6.25 and 6 per cent, respectively. 

The index fell from 10,915.10 to 10,899.55 as an immediate reaction to the announcement but climbed to its current level within 30 minutes. 

Shares of Bharat ForgeBSE 3.78 % (up 2.18 per cent), Eicher MotorsBSE 1.36 % (up 1.90 per cent), Mahindra & Mahindra (up 1.66 per cent), Hero MotoCorpBSE 0.74 % (up 1.16 per cent) and Maruti Suzuki IndiaBSE 1.22 % (up 1.15 per cent) were among top gainers. 

while Tata MotorsBSE -0.64 % (down 0.80 per cent), Exide IndustriesBSE -0.13 % (down 0.31 per cent), Amara Raja BatteriesBSE -0.05 % (down 0.23 per cent), Tata Motors (down 0.09 per cent) and Bajaj AutoBSE -0.06 % (down 0.05 per cent) were among top losers in the index at around the same time. 

BSE Sensex was up 71.99 points at 31,262.55. 

Shares of Emkay GlobalBSE 19.98 %, Future RetailBSE 14.34 %, Venkys (India), Shakti PumpsBSE 12.56 % and Simplex Infra hit their fresh 52 week high in today's trade, while FCS SoftwareBSE 0.00 %, DQ EntertainmentBSE -9.72 %, Prakash Steel, Videocon IndustriesBSE -4.96 % and Shilpi CableBSE -4.91 % hit their fresh 52 week low in trade. 

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