The markets continue to trade in the green after factoring in a 25 bps rate hike today as RBI faces a tough task balancing between growth and inflation. The Sensex is trading in a narrow range after reaching an intra-day high of 19,262. The index is currently trading up 108 points at 19,258 and the Nifty is uup 30 points at 5,774.
In the broader markets, the smallcap is up 0.7% while the midcaps have pared some of its initial gains, up 0.3% underperforming the Sensex, gaining 0.5%
Among the BSE sectoral indices, Capital goods, Consumer Durables and Metal indices have gained 1% each. However, ahead of the RBI policy the bankex has slipped into the red, shedding 0.2%.This fall is seen after six trading days were bankex outperformed the Sensex. Rate sensitive sectors, Realty and Auto are also at the bottom with a 0.2% gain.
NTPC, Sterlite and L&T up 2% are the top gainers on the Sensex. Hindalco, Hindustan Unilever, Hero Honda, Cipla and Tata Steel gaininf 1% ecah are the other noteable gainers.
HDFC Bank, ICICI Bank, Mahindra & Mahindra, Reliance Infrastructure and SBI down 0.2% -0.6% are the only losers on the Sensex.
The market bredath is positive. Of the total 1448 stocks traded on the sensex, 2598 stocks have advanced while 756 have declined.
