Sensex prepare gains place RBI Interest Rates Hikes
Indian equities pared all its initial gains to trade on a flat note after RBI announced rate hike. It has raised the short-term lending and borrowing rates by 25 basis points to tame high inflation, a move that would make home, personal and corporate loans costlier. The hike was in line with market expectations.
This is the 13th time since March, 2010, that the RBI has raised the interest rate to check inflation, which is currently ruling at 9.72% in September 2011.
At 11.36 a.m., the Sensex was trading up 9.31 points or 0.05% at 16,948.59 with 19 components gaining. Meanwhile, the Nifty was trading lower by 5.10 points or 0.10% at 5,093.25 with 23 components falling.
The 30-share benchmark index, BSE Sensex opened with a gain of 73.51 points or 0.43% at 17,012.79, while the broad based NSE Nifty started with a rise of 39.55 points or 0.78%, at 5,137.90.
Sensex Movers
Infosys contributed rise of 30.87 points in the Sensex. It was followed by Larsen & Toubro (14.35 points), Bharti Airtel (5.96 points), Reliance Industries (5.57 points) and Sterlite Industries (India) (3.78 points).
However, H D F C Bank contributed fall of 47.34 points in the Sensex. It was followed by I C I C I Bank (20.13 points), State Bank Of India (14.81 points), Oil & Natural Gas Corporation (3.84 points) and Bharat Heavy Electricals (3.64 points).
Indian equities pared all its initial gains to trade on a flat note after RBI announced rate hike. It has raised the short-term lending and borrowing rates by 25 basis points to tame high inflation, a move that would make home, corporate and personal loan costlier. The hike was in line with market expectations.
This is the 13th time since March, 2010, that the RBI has raised the interest rate to check inflation, which is currently ruling at 9.72% in September 2011.
At 11.36 a.m., the Sensex was trading up 9.31 points or 0.05% at 16,948.59 with 19 components gaining. Meanwhile, the Nifty was trading lower by 5.10 points or 0.10% at 5,093.25 with 23 components falling.
The 30-share benchmark index, BSE Sensex opened with a gain of 73.51 points or 0.43% at 17,012.79, while the broad based NSE Nifty started with a rise of 39.55 points or 0.78%, at 5,137.90.
Sensex Movers
Infosys contributed rise of 30.87 points in the Sensex. It was followed by Larsen & Toubro (14.35 points), Bharti Airtel (5.96 points), Reliance Industries (5.57 points) and Sterlite Industries (India) (3.78 points).
However, H D F C Bank contributed fall of 47.34 points in the Sensex. It was followed by ICICI Bank (20.13 points), State Bank Of India (14.81 points), Oil & Natural Gas Corporation (3.84 points) and Bharat Heavy Electricals (3.64 points).
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