Published: Fri, June 09, 2017
Economy | By Melissa Porter

Markets end higher after RBI policy announcement

Markets end higher after RBI policy announcement

Meanwhile, the Nifty was trading lower by 9.80 points or 0.10% at 9,654.10 with 32 components falling.

Indian shares traded flat on Thursday tracking Asian peers ahead of a slew of global events including the European Central Bank's policy meeting, United Kingdom elections and congressional testimony from ex-FBI director James Comey.

Tata Steel led the top gainers on Thursday and was followed by Dr Reddy's Labs, HDFC, Tata Motors, Lupin, Aurobindo Pharma and Hindalco.

At the closing bell, Nifty ended at 9663 with gain of 26 points and BSE Sensex closed at 31271, an increment of 80 points.

The market sentiment took a short-term reversal in the absence of any meaningful fresh domestic triggers and also concerns of stretched valuation.

It touched a high of 31,354.51 points and a low of 31,193.77 points during intra-day trade.

In 30-share Sensex, TCS dipped the most by plunging 3.59 per cent to Rs 2,521.50 after brokerage firm Nomura cut its rating to "reduce" from "neutral".

European markets held steady in early trade as polls opened in the United Kingdom general election after a campaign of three phases marred by terror attacks.

Market observers pointed out that investors were cautious ahead of the general election in Britain and European Central Bank's policy review.

In the sectoral landscape, IT stocks bled the most, plunging almost 2 per cent to settle at 10,178, with TCS (down 3.59 per cent) being the biggest loser.

However, the BSE market breadth was slightly bullish - with 1,351 declines and 1,330 advances. Shanghai Composite was trading 0.03 per cent higher. It closed down 3.2% at Rs 425.80 per share on BSE. At the same time, the S&P BSE Smallcap index pipped the headline Sensex, rising 47 points to 15,472. Gas utility GAIL fell as much as 4.3 percent, oil refiner International Olympic Committee dropped 2.1 percent and automaker Hero MotoCorp declined 1.5 percent.

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