Nifty above 9250, Sensex Flat; RBI Maintains Status Quo on Repo Rate

The benchmark indices pared losses on Thursday after the RBI decided to keep the repo rate unchanged at 6.25% in proportion to the market expectations. The Sensex was down 46.90 points at 29,927.34, while the Nifty was down 13.30 points at 9,251.85 on closing. BSE Midcap  gained 0.15%, while BSE Smallcap  was down 0.23%. Market breadth showed gains with 1,476 advances against 1,403 declines on the BSE while a total of 140 stocks remained unchanged.

SBI, ITC and Hindalco were among the top losers, while BHEL, Tata Steel and Zee Entertainment were the top gainers on both BSE and NSE.

Nifty Bank index fell nearly 0.55%. The bank index has grown about 19 % percent this year. Jindal Steel and Power gained nearly 5.22% after posting a 12.3% rise in row, in quarterly consolidated steel production.

Asian markets finished on mixed note The Shanghai Composite gained 0.33%, while the Nikkei 225 led the Hang Seng lesser, falling 1.40% and 0.52% respectively. The Indian rupee was trading at Rs 65.04 against the US dollar in the afternoon session, while the Oil prices were trading at US dollar 51.18.

Turmeric prices hit 4% lower Circuit on Higher Supply in the spot Market @ Updates By Money maker Research

NCDEX Turmeric futures witnessed bearish trend tracking higher availability of stocks in the market. They opened positive note however trade in negative note for major parts during previous trading session.

- April contract closed the trade at Rs.8460/quintal, down by 3.82% from its previous close. We continue to sell Turmeric futures during today’s trading session. Increase in stocks in the spot markets amid moderate demand may weigh negative sentiments on the market.