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INDIAN EQUITY MARKET OUTLOOK - 5 Apr 2018

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Sensex rises over 400 pts ahead of MPC meet outcome; banks, realty, auto gain

Benchmark indices rallied further, with the Sensex rising 473.44 points or 1.43 percent to 33,492.51 and the Nifty gaining 150.90 points or 1.49 percent at 10,279.30.

About six shares advanced for every share falling on the BSE.

ICICI Securities said the board of directors will consider approval of the audited annual accounts & financial results of the company for the financial year ended March 2018 and consider the recommendation of dividend, if any, on the equity shares for the financial year ended March 31, 2018 at its meeting to be held on April 14, 2018.

Ashoka Buildcon emerged as the lowest bidder for for the electrification work worth Rs 320.92 crore in Etah and Kashiram Nagar (Kasganj) district and Rs 438.92 crore in Kannoj, Farrukhabad and Etawa district.s

The rupee strengthened by 6 paise to 65.08 against the dollar at the interbank forex market on fresh selling of the greenback by exporters and banks ahead of the RBI's monetary policy outcome later in the day.

Dealers said dollar's weakness against some other currencies overseas and early gains in domestic equity markets supported the rupee.Yesterday, the rupee fell 14 paise to end at 65.15 against the US dollar.

Shares of interest rate-sensitive stocks like auto, banking and realty rallied in morning trade on the bourses ahead of the Reserve Bank of India's monetary policy decision today.

The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, will announce the resolution of the MPC on its first bi-monthly monetary policy for financial year 2018-19 later in the day.

Among banking stocks, Kotak Mahindra Bank rose as much as 1.6 percent, while Yes Bank jumped 1.64 percent, State Bank of India 1.9 percent, Federal Bank 1.26 percent, Punjab National Bank 1.64 percent and Bank of Baroda 2.32 percent.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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