Comments
The Nifty and the Sensex gained in excess of half a per cent led by FMCG and IT stocks.
The Nifty closed at 5904, up 33 points while the Sensex closed at 19388, up 101 points.
Market-men said that better than expected results in FMCG companies HUL and ITC and short covering in IT scrips were the reasons for this gain.
“We expect the RBI to cut its repo rate by 25 basis points to 7.25 per cent in its annual policy meeting due on May 3,” said Sonal Varma-India Economist- Nomura in its Asia Insights report.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.