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Auto stocks cheer RBI policy outcome, gain nearly 1%

Shares of Bharat Forge, Eicher Motors and Mahindra & Mahindra were among top gainers.

ETMarkets.com|
Updated: Jun 07, 2017, 03.53 PM IST
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NEW DELHI: Interest rate sensitive NSE Nifty Auto were trading higher by 0.69 per cent, 10,923.75 at around 03:03PM on Wednesday as RBI decided to not change the repo and the reverse repo rate from 6.25 and 6 per cent, respectively.

The index fell from 10,915.10 to 10,899.55 as an immediate reaction to the announcement but climbed to its current level within 30 minutes.

Shares of Bharat Forge (up 2.18 per cent), Eicher Motors (up 1.90 per cent), Mahindra & Mahindra (up 1.66 per cent), Hero MotoCorp (up 1.16 per cent) and Maruti Suzuki India (up 1.15 per cent) were among top gainers.

while Tata Motors (down 0.80 per cent), Exide Industries (down 0.31 per cent), Amara Raja Batteries (down 0.23 per cent), Tata Motors (down 0.09 per cent) and Bajaj Auto (down 0.05 per cent) were among top losers in the index at around the same time.

Benchmark NSE Nifty50 index was up 22.60 points at 9,659.75.

Among the 51 stocks in Nifty index, 35 were trading in green, while 16 were in red.

Shares of ICICI Bank, Vedanta, ITC, DLF and SBI were among most traded securities on the National Stock Exchange on Wednesday.

BSE Sensex was up 71.99 points at 31,262.55.

Shares of Emkay Global, Future Retail, Venkys (India), Shakti Pumps and Simplex Infra hit their fresh 52 week high in today's trade, while FCS Software, DQ Entertainment, Prakash Steel, Videocon Industries and Shilpi Cable hit their fresh 52 week low in trade.

Top 5 takeaways from RBI's policy meet

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Impact of GST Implementation

7 Jun, 2017
RBI said that the implementation of GST is unlikely to cause any material impact on overall inflation. Headline inflation is expected in the range of 2.3-5 per cent in the first half of the year and 3.5-4.5 per cent in the subsequent half.
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