Mumbai: Indian stocks opened relatively flat on Thursday. Perhaps, they are waiting for what the Reserve Bank of India has to say in its mid-quarter monetary policy review. A 25 bps rate hike is already priced in.
Sensex: 18,303, –0.30%
Nifty: 5,494, –0.30%
Nikkei: 8,939, –1.69%
Hang Seng: 22,294, –1.79%
Information technology and FMCG stocks are trading lower in opening deals. While banking stocks are still holding up in green, power stocks are continuing their gains on Thursday.
BSE IT: 6,091, –1.35%
BSE FMCG: 3,436, –0.89%
BSE Bankex: 12,481, +0.35%
Reliance group companies Reliance Communications and Reliance Capital are leading the gains in the Nifty-50 pack. Investors are also buying cement stocks on reports that companies are rising cement prices across the country.
Reliance Communications: Rs 106, +3.69%
Ambuja Cement: Rs 133, +2.46%
Reliance Capital: Rs 585, +1.75%
HDFC Bank: Rs 2,220, +1.68%
Overall the breath of the market is mixed in the morning deals. About 43% of the stocks trading on the BSE are witnessing losses.