A maturing market amid the mayhem
Sensex snaps losing run
The benchmark closed at 8446.
ICICI Bank, India’s top private lender, fell over 4 percent on concerns the bank’s Russian assets may be vulnerable as firms there struggle to stay afloat.
On the sectoral front, the BSE Metal Index ended 2.8 percent higher. Shares in SAIL gained 7.3 percent. The Bankex was the worst hit, ending down 1.5 percent. State Bank of India slipped 1.8 percent.
Fraud-hit firm Satyam dropped over 3 percent to 37.95 rupees with volumes of 6.9 million shares on BSE.
The Sensex managed to end marginally higher today, but is still trading under 8,500 levels. Do you think the index can extend its gains tomorrow?
UPDATE: The much awaited rate cut has been announced. RBI has cut repo rate by 50 bps to 5 pct and reverse repo rate by 50 bps to 3.5 pct with immediate effect. Do you expect the Sensex to rally tomorrow?