Sensex rangebound ahead of RBI MPC meet outcome; Eicher, Idea up

Epic Update Eicher Motors
Epic Update Eicher Motors

The market retained its positive trend in noon trade with a range of 20 points on the Nifty. Banks and auto continued to support the equity benchmarks ahead of the outcome of RBI monetary policy committee meeting that will be announced around 2:30 PM IST.

Economists largely expect a 25bps cut in repo rate after considering October CPI inflation that fell to 4.2 percent from 4.39 percent in September. RBI commentary will also be closely watched, especially after currency demonetisation.

The 30-share BSE Sensex was up 54.86 points at 26447.62 and the 50-share NSE Nifty gained 21.60 points at 8164.75 while the broader markets advanced 0.3 percent as about 1358 shares advanced against 888 declining shares on the BSE.

Eicher Motors, BPCL, Adani Ports, Idea Cellular, HDFC, Hero Motocorp, M&M and Tata Motors were top gainers, up 1-2.6 percent while Sun Pharma plunged 4 percent on USFDA concerns.
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