After opening 0.7% above to the previous close Indian benchmark indices traded flat note throughout the day. Nifty traded in the narrow range of 30 points and ended the day at 6075.45 up by 43.65 points while Sensex ended at 20293.71 surging 134.59 points.
The Reserve Bank of India (RBI) on Monday moved to tighten gold imports again in an attempt to narrow down a record high current account deficit (CAD) by taming demand for the yellow metal. The RBI asked all nominated banks and agencies to export at least one-fifth of every lot of imported gold in all forms, and locally make it available only for jewellers.
The central bank said banks need to retain 20 per cent of the imported gold in customs bonded warehouses, and will only be able to further import gold after exporting at least 75 per cent of the gold from those warehouses.
Among the sectoral indices CNX PSU Bank gained 2.17% followed by CNX FMCG (1.58%) and CNX Realty (1.40%) while CNX Infra was the only loser of the day, plunged by -0.10%.
Out of 50 stocks of Nifty 34 stocks advanced while 14 declined.
Top 5 Nifty gainers: BOB (5.23%), Kotak Bank (4.33%), IDFC (3.57%), HUL (3.28%) and DLF (2.85%) were among the top gainers.
Top 5 Nifty losers: Asian Paints (-1.99%), Bharti Airtel (-1.90%), Ultra Cement (-1.28%), Powergrid (-1.26%), and Ambuja cement (-1.21%) were among top losers.
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