Money on the markets

A maturing market amid the mayhem

Markets choppy, fuel price brought cheer

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The BSE Sensex broke a two-day climb and fell marginally to 0.2 percent on Thursday as investors squared their position on the last day of expiry.

The BSE auto index gained 1.3 percent as autos bucked the trend. The rise was led by buying in Maruti Suzuki, Mahindra & Mahindra and Bharat Forge as the government cut state-set fuel prices, a move that could help in slowing down inflation.
FIIs remained net buyers of $6.2 million in equity and $0.5 million in debt, as against net sellers of $59.4 million yesterday and $85.3 million on January 27.

Asian markets saw a rise as investors cheered the U.S. Congress’ headway on a $825 billion stimulus spending package and other efforts to address the financial meltdown.

Sensex heavyweight Reliance Industries closed down 0.4 percent at 1,268.05 rupees on some profit booking. The scrip had rallied 13.7 percent in the previous four sessions.

Cheer for investors as Sensex rises for second day

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It was another bright day for Indian investors as gains across world markets allayed concerns over risk aversion and triggered short covering ahead of the expiry of monthly derivatives contracts on Thursday.

The BSE Sensex closed 2.81 percent up at 9257, with heavyweight Reliance Industries leading the march.

Sensex rallies despite RBI decision

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The BSE Sensex shrugged off the RBI decision to keep rates steady and closed 3.8 percent higher as gains in global markets triggered short covering ahead of the expiry of monthly derivatives.

In today’s policy review, the Reserve Bank left its lending rate steady at 5.5 percent and its reverse repo rate unchanged at 4.0 percent at its policy review on Tuesday. It has also kept the cash reserve ratio unchanged at 5.00 percent.

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