ZCZC
BCN-17
INDIA-MARKETS-SENSEX
Sensex jumps over 200 pts ahead of RBI policy meet
Mumbai, Jun 3, 2019 (BSS/PTI) – The benchmark BSE Sensex rallied over 200
points in early trade Monday driven by gains in financial stocks ahead of the
Reserve Bank’s bi-monthly policy review.
The 30-share index was trading 203.82 points, or 0.51 per cent, higher at
39,918.02. Similarly, the broader NSE Nifty spurted 48.35 points, or 0.41 per
cent, to 11,971.15
In the previous session on Friday, the Sensex settled 117.77 points, or
0.30 per cent, lower at 39,714.20, and the Nifty settled lower by 23.10
points, or 0.19 per cent, at 11,922.80
Top Sensex gainers in early session Monday include Hero MotoCorp, Asian
Paints, Bajaj Auto, HUL, HDFC twins, PowerGrid, TCS and Bajaj Finance, rising
up to 3 per cent
While, ONGC, Yes Bank, Tata Motors, SBI, M&M and RIL fell up to 1.77 per
cent
The Reserve Bank of India’s Monetary Policy Committee (MPC) is slated to
announce its bi-monthly policy Thursday. The central bank had cut the short-
term lending rate (repo rate) by 25 basis points each in its last two policy
reviews
The MPC headed by RBI Governor Shaktikanta Das will meet for three days
beginning June 3 to firm up the second bi-monthly monetary policy of the
fiscal
According to experts, the Reserve Bank may go for another round of rate
cut, third in a row, on Thursday to prop up the economic growth which dropped
to a five-year low in the final quarter of 2018-19
Meanwhile, foreign institutional investors bought equity worth Rs 676.15
crore on Friday, and domestic institutional investors purchased shares to the
tune of Rs 394.09 crore, provisional data available with stock exchanges
showed
Elsewhere in Asia, bourses in China, Japan and Korea were trading on a weak
note in their respective early sessions
On the currency front, the rupee also appreciated 24 paise to 69.45 against
the US dollar
Brent crude futures, the global oil benchmark, were trading 1.13 per cent
lower at 61.29 per barrel.
BSS/PTI/HR/1335