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The Economic Times

Market now: Nifty Auto opens flat ahead of RBI policy meeting outcome

NEW DELHI: Rate-sensitive NSE Nifty Auto was trading 0.39 per cent up at 10,892.0 ahead of the outcome of the Reserve Bank of India's (RBI) monetary policy meeting that is scheduled at 2.30 pm (IST) on Wednesday.

Shares of Mahindra & Mahindra (up 1.60 per cent), Hero Moto Corp (up 1.08 per cent), Bharat Forge (up 1.04 per cent), Ashok Leyland (up 0.71 per cent) and Bosch Ltd. (up 0.55 per cent) were among top gainers in early trade.

Apollo Tyres (down 0.60 per cent), Tata Motors (down 0.37 per cent), Motherson Sumi Systems (down 0.28 per cent), Amara Raja Batteries (down 0.18 per cent) and TVS Motor Company (down 0.12 per cent) were among top losers in the index.

For trending stocks and buzzing news, track this LIVE BLOG from Dalal Street.

Benchmark NSE Nifty50 index was up 25.95 points at 9,663.1.

Among the 51 stocks in Nifty index, 32 were trading in green, while 18 were in red.

Vedanta, Cadila Health, ITC, ICICI Bank and Hindalco Industries were among most traded securities on the National Stock Exchange.

BSE Sensex was up 99.84 points at 31290.4.

Shares of Venkys (India), IIFL Holdings, Cadila Health, Edelweiss Fin, JHS Svendgaard hit their fresh 52-week high in today's trade, while KSS Ltd, FCS Software, DQ Entertainment, Urja Global, DS Kulkarni Dev hit fresh 52-week low in trade.

Traders were seen piling up positions in pharmaceuticals and health care, tobacco, shipping, personal care and jewellery sectors. However, selling was visible in aquaculture, packaging, rubber and transport sectors.

RBI held its benchmark repo rate at a six-year low of 6.25 per cent on April 6, 2017, as widely expected, and raised its reverse repo rate by 0.25 per cent to 6 per cent, saying there are upside risks to the inflation outlook amid an uncertain global economic environment.
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