Markets make new records amid expectation of rate cut by RBI

Aug 01, 2017, 22:48
Markets make new records amid expectation of rate cut by RBI

The Sensex and Nifty closed at their highest ever level for a second session in a row as automakers such as Eicher Motors Ltd advanced on upbeat monthly sales a day ahead of a key central bank policy meeting.

Besides, positive global cues, along with hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI), kept investors' sentiments buoyed.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Major Sensex gainers on Tuesday were: Hero MotoCorp, up 2.05 per cent at Rs 3,729.10; Maruti Suzuki, up 1.96 per cent at Rs 7,859.10; Wipro, up 1.82 per cent at Rs 294.25; Mahindra and Mahindra, up 1.77 per cent at Rs 1,426.85; and Dr. Reddy's Lab, up 1.73 per cent at Rs 2,426.75.

The rally mirrored strength in most Asian indices.

Shares of Tech Mahindra rose as much as 7.3 per cent before settling 4.12 per cent higher, a day after the company reported a better-than-expected rise in quarterly profit, helped by new clients for its digital services business.

Weather Authority Forecast for Sunday Evening, July 30th
This slow warm up will continue throughout the middle of the week, but high will only reach into mid-80s at the warmest point. Overall, mostly dry weather is in the forecast until a midweek storm system tries to change that.

Conway, other Trump supporters laud decision to replace Priebus with Kelly
Although he is new to the White House, Scaramucci had been employed at a senior level by the Export-Import Bank since June 19. Priebus traveled with Trump earlier in the day to an appearance in Brentwood, New York . "We didn't even know it".

Rose Talks Deal with Cavs, Will Meet with Lakers
However, there is apparently one former MVP that could do just that, and - the Cavs hope - salvage their offseason. That report , which came from USA Today's Sam Amick , indicates that the Bulls have spoken to Rose's agent B.J.

Similaly, the 30-scrip Sensitive Index (Sensex) of the BSE closed at a fresh high of 32,575.17 points - up 60.23 points, or 0.19 per cent, from its previous close of 32,514.94 points. It settled up 62.60 points, or 0.63 per cent, at a fresh life high of 10,077.10, breaking its previous record of 10,020.65 recorded on July 26. This has breached the previous closing record of 32,383.30 hit on July 27.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 percent, led by gains in financials and energy shares.

In US, the Dow Jones Industrial Average finished at an all-time high yesterday, but the broader market's gains were capped by losses in the technology sector.

The S&P 500 information technology dipped 0.53 per cent, with Facebook falling 1.86 per cent and Alphabet, Google's parent company, down 1.34 per cent.

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