Key benchmark indices cut gains after striking fresh intraday high in late trade as Asian and European stocks rose on speculation the 16-day partial US government shutdown will curb economic growth in the world’s biggest economy and lead the Federal Reserve to maintain monetary stimulus to the US economy into 2014. In the foreign exchange market, the rupee was slightly lower against the dollar amid high intraday volatility after the Reserve Bank of India (RBI) said that its dollar window for oil marketing companies remains open, adding that any tapering would be done in a calibrated manner. The BSE Sensex closed at 20882.89 and 467.38 point up.
Who Moved and Why
- Nestle India gains nearly 9% in three sessions.
- Bharti Airtel gains after acquiring 100% in WBS.
- Metal shares rise after strong Chinese data.
- Volumes jump at Redington India counter.
- Blue Star Infotech drops after weak Q2 results.
- PVR firmly in the picture.
- Brokerage ‘buy’ call lifts Sesa Sterlite.
- Axis Bank gains over 3% in two sessions.
- Aviation stocks take off on weak crude, strong rupee.
- PSU OMCs in demand.
- Sabero Organics Gujarat jumps after robust Q2 outcome.
Read detail analysis report here: – http://rrfinance.com/Reserch/Pdf/07-July/DMR/18th_OCT_equity_closing_update%20%281%29.pdf
Related articles- Asian Stocks Advance as Chinese Economy Grows Faster – Bloomberg (bloomberg.com)
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