END OF THE DAY REPORT (4th MARCH 2015):
Markets dips on profit-booking despite RBI’s surprise rate cut.
Markets today further went on to hit fresh life-time high after RBI cuts Repo rate by 25 bps to 7.5% but could not sustain on higher levels on profit booking mainly dragged by banks and Metals.
Sensex touch 30000 mark for the first time and hits 30024.74, Nifty hits fresh high of 9119.20.
HEADLINES FOR THE DAY:
- RBI today cuts Repo rate by 25 Bps to 7.5%; CRR at 4%.
- PC Jeweller gains; inks exclusive collaboration pact with Blue Nile.
- Metal stocks were under pressure; SSLT dips 4%.
- NBCC hits fresh high; gains 100 percent in 6 months.
- Port stocks were in demand; GPPL, Essar Ports hits fresh high.
- ITC gains on bargain Hunting.
- Marico Hits fresh high after block deal.
IT and Banking stocks dips on profit booking. Wipro dips 1.8% while HDFC bank shed 1.5%
SOME STOCKS FOR NEXT TRADING SESSION:
- Railway stocks were in demand today, TWL, BEML gains further positive momentum expected Buy BEML EQ above 1050 Targets 1060.50/1071.10/1081.80 SL 1039.
- SPARC gains and hits fresh high (on positive news) after USFDA nod for ELEPSIA XR. Buy SPARC EQ above 448.30 Targets 452.70/457.30/461.80 SL 443.80.
European stock markets gains as investors cautious ahead to the European Central Bank’s policy meeting tomorrow.
Asian stocks dips as investors grew looked before upcoming central bank meetings and U.S. jobs data, while RBI (India’s central bank) surprised with its second inter-meeting rate cut this year.
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