Stock Market Opening
The stock market has begun off the trade with a 1 percent fall on Tuesday taking after shortcoming in global companions and in front of greatly anticipated RBI approach. The BSE Sensex fell 280.86 points to 25335.98 and the Nifty NSE dove 84 points to 7711.70.
Vedanta, ICICI Bank, Tata Steel, Hindalco, Dr Reddy's Labs and Cairn India topped the selling list, down 2-4 percent.
The Indian rupee has opened strongly lower at 66.33 a dollar on Tuesday contrasted with 66.04 a dollar in past session taking after frail worldwide prompts and in front of RBI money policy.
Latest Market Updates
The market recuperated forcefully with the Nifty hitting 7800-mark after the Reserve Bank of India(RBI), shockingly, cut repo rate by 50 base points. Financial experts were expecting the 25 base points cut in repo rate. The Sensex picked up 16 points to 25633 and the Nifty rose 7 points to 7802.
Shares of HDFC, HDFC Bank and State Bank of India turned positive, up 1.5 percent, 0.5 percent and 0.3 percent, individually. Capital goods majors likewise bounced back with the L&T and BHEL rising hardly.
TCS and Infosys excessively bolstered recuperation, up 0.7 percent each. On the other hand, ICICI Bank, Dr Reddy's Labs, Sun Pharma, Bharti Airtel, Axis Bank, Tata Motors, ONGC and Vedanta declined 1-5 percent.
Intraday Stock Market Tips Today
Short Bata India futures with a stop loss at Rs 1121 and target of Rs 1010
Short RComm future with a stop loss at Rs 65.20 and target of Rs 60
Buy India Cements with a stop loss at Rs 75 and target of Rs 82
Buy DLF with a stop loss at Rs 127 and target of Rs 144
Sell Just Dial with a stop loss at Rs 980 and target of Rs 935