INDIAN BENCHMARKS: SENSEX ENDS FLAT,NIFTY ABOVE 7950
A
dovish money policy from the Reserve Bank of India, which maintained status quo
on policy rates on the expected lines, failed to lift the spirits on Dalal
Street on Tuesday, as the benchmark indices closed flat.
At
its fifth bimonthly rate review, the central bank maintained a dovish tone in
its commentary on the economy, inflation and scope for further cuts. "The
Reserve Bank will use the space for further accommodation, when available,
while keeping the economy anchored to the projected disinflation path that
should take inflation down to 5 per cent by March 2017,” governor Raghuram
Rajan said.
BSE
benchmark Sensex ended 24 points, or 0.09 per cent, higher at 26,169 while the
50-stock barometer Nifty50 closed with gains of 20 points, or 0.25 per cent, at
7,955. Gains in Vedanta and Dr Reddy's Labs helped the BSE benchmark remain in
the positive territory.
HEADLINES OF THE DAY
RBI
maintains status quo on interest rates
Aurobindo
receives USFDA approval for Risedronate Sodium Tablets
Maruti
Suzuki November 2015 volumes up 9.7% YoY
The
crucial resistance for Nifty SPOT is now seen at 8010 and above this 8040.
Support for the immediate term is now placed at 7877 and next support will be
7812.
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