Trade: Sensex, Nifty, Midcap hold early gains; Rajan's move eyed

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Equity benchmarks as well as broader markets maintained early gains as investors are eagerly waiting for the RBI monetary policy review. Majority of economists expect Governor Raghuram Rajan to keep rates unchanged but the commentary will be closely watched.

 "RBI policy actions would continue to be guided primarily by domestic inflation. Further rate cuts by the RBI can be expected only after a clearer picture of the monsoons and oil price level emerges.

The RBI is also waiting for the passage of key global events viz. the US Federal Reserve’s interest rate action and the Brexit referendum (Britain’s exit from the European Union) and the resultant volatility in domestic markets to make its policy moves," CARE said in its note.

The Sensex rose 84.31 points to 26861.76 and the Nifty climbed 26.05 points to 8227.10. 

The market breadth was positive as about two shares advanced for every share declining on Bombay Stock Exchange. 

ICICI Bank, SBI, HUL, Maruti Suzuki, ONGC and Hero Motocorp topped buying list on Sensex, up 1-2 percent while HDFC, Lupin, Infosys, Adani Ports and Dr Reddy's Labs fell.

BUY STAR FUTURE ABOVE 1145 TG 1151, 1159, 1169 SL 1135,

FUTURE TRADING TIPS

Equity benchmarks as well as broader markets maintained early gains as investors are eagerly waiting for the RBI monetary policy review. Majority of economists expect Governor Raghuram Rajan to keep rates unchanged but the commentary will be closely watched. "RBI policy actions would continue to be guided primarily by domestic inflation. Further rate cuts by the RBI can be expected only after a clearer picture of the monsoons and oil price level emerges. The RBI is also waiting for the passage of key global events viz. the US Federal Reserve’s interest rate action and the Brexit referendum (Britain’s exit from the European Union) and the resultant volatility in domestic markets to make its policy moves," CARE said in its note. The Sensex rose 84.31 points to 26861.76 and the Nifty climbed 26.05 points to 8227.10. The market breadth was positive as about two shares advanced for every share declining on Bombay Stock Exchange. ICICI Bank, SBI, HUL, Maruti Suzuki, ONGC and Hero Motocorp topped buying list on Sensex, up 1-2 percent while HDFC, Lupin, Infosys, Adani Ports and Dr Reddy's Labs fell.

Read more at: http://www.moneycontrol.com/news/local-markets/sensex-nifty-midcap-hold-early-gains-rajan39s-move-eyed_6821321.html?utm_source=ref_article