Indian equity market gained the momentum in afternoon trade even after the RBI denied lowering its key rate and kept it unchanged on its monetary policy meet. Sensex closes up 147 points at 19325.87 while 50 stocks index Nifty ended at 5850.05 up by 41.65 points.
According to market makers, market had already factored in no change in interest rate but the momentum was led by RBI future guidance which increases the hopes of rate cut in the second half of the year if CPI moderates and INR stabilizes against USD.
Bharti Airtel on Monday announced completion of 5 percent stake sales to Qatar Foundation Endowment for Rs. 6,796 crore. Airtel has allocated 199,870,006 new equity shares at price of Rs. 340 each share.
Among the sectoral indices CNX Auto gained 1.82% followed by CNX Consumption (1.61%) and CNX Infra (1.04%) while CNX Metal (-0.09%) was the only loser of the day.
Out of the 50 stocks of Nifty 36 stocks advanced while 14 stocks declined.
Top 5 Nifty gainers: BHEL (4.03%), M&M (3.97%), Bharti Airtel (2.26%), Bajaj Auto (2.12%) and Reliance Infrastructure (1.75%) were among top gainers.
Top 5 Nifty losers: Ranbaxy (-3.57%), Hindalco (-1.50%), GAIL (-1.35%), NTPC (-1.32%) and Sesagoa (-1.27%) were index top losers.
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