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Market Scene: RBI Policy outcome cut market gains

On Friday morning session, the key benchmark indices moved up in the positive territory during morning session. But, during the mid-session, the Reserve Bank of India (RBI) released its repo-rate in its bi-monthly review meeting.

The RBI has slashed its repo-rate by 25bps to 5.15pc in a bid to boost the economic growth. Accordingly, the rate sensitive stocks Such as Banks, finance has undergone selling pressure in the markets.

During mid-morning at 12.00 noon, it was observed that the IT stocks along with the Auto indices went up 0.68% each. At the same time, major falls in the sector were observed in the Bank and Financial

By this time, the Nifty moved to surround 11,320-levels, up by 6 points, while the Sensex reflected at 38150, up 43 points.

Cipla rose 2.4% and Mahidnra and Mahindra advanced 2.15% which were among top Nifty Gainers. On the reverse, Bharat Petroleum (BPCL) slipped 3%, followed Kotak bank and Grasim which slipped 1.8% each in the benchmark.

The Gains in the Nifty IT index was boosted by the stocks such as Wipro, Infosys, TCS, Tech Mahindra and NIIT Technologies, with gains up to 1.5% each approx. Get best stock Tips from the experts.

The Auto index was the second index gainer on the Nifty sectoral indices. Ashok Leyland, Apollo Tyres, Hero Motors Corp, Maruti Suzuki, M&M, Bajaj Auto and MRF have advanced in the Nifty Auto index, up to a maximum level by 3.4%

Out of the 50 stocks in the Nifty pack, 18 stocks were seeing buying pressure, while the rest 32 stocks are witnessing selling pressure.

Shares of YES Bank, State Bank of India, Tata Motors, Ashok Leyland and Indiabulls Housing Finance were some of the most traded scrips in the NSE, in today’s trading session. For Free stock tips  visit our website.