Indian Markets jump on Wednesday's trading - ZENMoney

Domestic Indices opened the day on a flat note amid sluggish global cues. Markets witnessed positive sentiment after Prime Minister's Economic Advisory Council Chairman C Rangarajan has pegged economic growth at 5-5.5 per cent for the current financial year and has said that the economy still had the potential to grow more than the previous year's growth rate of five per cent. Investors' sentiments remained positive on the hopes that new RBI governor will loosen monetary policy to pick up the economic growth and will take fresh measures to check the rupee depreciation. Also, recovery in rupee after Reserve Bank of India had issued clarification on its recently revised Overseas Direct Investment Guidelines, boosted the market sentiment. Though markets pared some of their gains by noon on the back of negative cues from European markets, Indices continued to trade positive amid buying interest witnessed in select frontline bluechip counters.

On a sectoral front, Metal sector was the major gainer of the day followed by HealthCare, Auto, IT, Banking and Oil&Gas sectors. Power,CGandCDare other sectors traded in green. Realty sector was the only loser of the day with Reserve Bank of India tightening the housing loans norms.

Source : Equity Bulls

Keywords