Sensex, Nifty Seen Up As Trade Fears Ease; RBI Meeting Eyed

Sensex cracks 350 points; Nifty ends below 10200

Taking a cue from global markets, the Sensitive Index (Sensex) of the BSE, which had closed at 33,019.07 points on Wednesday, opened higher at 33,289.96 points today. The gauge had lost 351.56 points in the previous session.

The central bank kept the interest rate unchanged at 6 per cent for the fourth consecutive time since August a year ago, but lowered retail inflation projection for the first half of current fiscal to 4.7-5.1 per cent and 4.4 per cent for the second half.

China's move led to worries that the two nations may be heading towards an all-out trade war.

Sensex took a breather on Friday after Thursday's 577 point rally as traders book profit in recent gainers.

The broader NSE Nifty, after scaling the day's high of 10279.85, slipped into the negative terrain to 10111.30 before closing at 10128.40, down 116.60 points, or 1.14 per cent.

In the morning Nifty 50 opened 131.30 points up at 10,259.70 and the Sensex opened 400 points up at 33,420. Besides a number of large caps, scores of midcap and smallcap stocks too ended with handome gains and the market breadth was pretty strong with gainers outscoring losers 10 to 3.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 335.18 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 152.55 crore yesterday, provisional data showed. While Japan's Nikkei 225 was trading in green, up by 1.73 per cent, South Korea's Kospi was also up by 1.43 per cent. Among the sectoral indices, BSE Metal was down 2.75 per cent, followed by Consumer Durables (-2.55 per cent), Basic Materials (-2.07), Capital Goods (-1.95) and Bankex (-1.63). In the Eurozone, Frankfurt's DAX gained 1.80 per cent and Paris CAC advanced 1.73 per cent in early deals. The Nasdaq jumped 1.45% to end at 7,042 and the S&P 500 rose 1.16% to close at 2,645.

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