BUY PIDILITIND AND SELL RELCAPITAL CALLGIVEN YESTERDAY ACHEVED FIRST TARGET.
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The Reserve Bank of India (RBI)
slashed repo rate by 25 bps to 6 percent on April 4 as expected and kept the
stance unchanged to ‘Neutral’. This is the second rate cut in 2019.The MPC
notes that the output gap remains negative and the domestic economy is facing
headwinds, especially on the global front. The need is to strengthen domestic
growth impulses by spurring private investment which has remained sluggish.Rate
cut usually acts as a sentiment booster and aid companies that have to service
large debts. A cut by RBI injects liquidity in the economy. Loans with a low
rate lead to an increase in buying interest. The
S&P BSE Sensex shed 192 points or 0.49 per cent to settle at 38,685.
Reliance Industries, TCS, Infosys, ICICI Bank and IndusInd Bank contributed the
most to the index's decline. Out of 30 components, 17 scripts ended in the red.
BUZZING
STOCKSShares of interest rate sensitive
sectors like the bank, real estate, and automobiles ended mixed on the bourses
after the Reserve Bank of India (RBI) on Thursday cut the repo rate by 25 basis
points. The Nifty Bank index and Nifty Realty index slipped 0.63 per cent and
0.07 per cent, respectively, while Nifty Auto index gained 0.66 per cent.Jet
Airways (India) pared initial losses to end the day 3.52 per cent higher at Rs
259.95.Pidilite Industries shares traded higher for the fifth straight day, and
ended almost 1 per cent higher, at Rs 1,288 on the BSE.
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