RBI policy meet will be a major trigger for Indian Markets - Geojit BNP Paribas Financial Services

The markets yesterday opened with a flat note but ended higher tracking the positive European markets.

Nifty closed at 5908 up around 57 points. The major sectoral gainers for the day were the Realty and Banking sector which closed up around 2.18% and 2.08% respectively.

The banking stocks and the realty stocks were seen trading higher on the expectations of a rate cut by the RBI in its next policy meet. Maruti and SBIN were stock gainers today which closed up around 3.55% and 3.47% respectively. Bajaj-Auto and GAIL were the losers which closed down around 2.03% and 1.23% respectively.

The WPI inflation data for the month February came out yesterday which stood at 6.84% as compared to 6.62% in January. For a year ago period, the inflation data stood at 7.56%.

The FIIs were buyers in the capital market segment on Wednesday 13 March 2013, bought shares worth Rs 303.83 crore as per the provisional data from the stock exchanges. On the other hand the DIIs were sellers on 13 March 2013, sold shares worth RS 434.38 crore as per the provisional data from the stock exchanges.

In the global front, the European markets were trading higher ahead of two day summit of the region’s policy makers in Brussels. The US future index was also trading higher.


The market breadth remained flat as there were seen 1423 stocks advancing against 1443 stocks declining.

Now for the Indian markets, the major trigger may be the RBI policy meet which is due on 19, March 2013.

Source : Equity Bulls

Keywords