Sensex snaps 4-day rally, Nifty manages to hold 11,300; autos hit


After days of rally, D-Street on Wednesday took a breather of sorts, courtesy the rate hike announced by Reserve Bank of India by 25 basis points. The Nifty managed to close just below 11,350-mark, while the Sensex ended above 37,500.

The Sensex ended down by 84.96 points or 0.23% at 37521.62, while the Nifty ended lower by 10.30 points or 0.09% at 11346.20. The market breadth was narrow as 1,368 shares advanced, against a decline of 1,294 shares, while 161 shares are unchanged.

Among sectors, banks saw a sharp recovery, while sectors such as pharma, FMCG, IT and energy ended in the green. Bank Nifty and Nifty Auto ended in the red. The Midcap index ended higher by 0.10 percent.

HEADLINES OF THE DAY

Results to be announced tomorrow :- Capital First,GIC Housing Fin,Godrej Prop,Indiabulls Hsg,JK Lakshmi Cem,Mahindra Holida,Mahindra Logist,Manpasand Bever,Marico,Megastar Foods,ONGC,Pioneer Invest,Ramco Cements,Ramco System,Ramcoind,Rane Holdings,Summit Sec,Time Techno,Torrent Pharma,Transport Corp,UP Hotels.

RBI hikes rates by 25 bps.

RBI policy meet: Rate sensitive stocks trade lower after it hikes repo rate by 25 bps to 6.5%.

The crucial resistance for Nifty spot is now seen at 11400 and above this 11550 Support for the immediate term is now placed at 11180 next support will be 11090.

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