Markets are trading firm in wake of the Reserve Bank of India's (RBI) mid-term monetary policy review. The Sensex is up 110 points at 15,946 and the Nifty has advanced 28 points to 4,777 levels.
The RBI in its monetary policy review paused its rate hike cycle after continuously raising the key policy rates thirteen times in one year. Looking at the overall slowdown in the growth and fall in inflation, the central bank kept the key rates unchanged. The inflation projection for March FY12 is kept at 7 per cent.
Back to markets, Bharti Airtel is the top gainer among the Sensex stocks, up 3.2% at Rs 348. Tata Motors, Bajaj Auto, Hindalco, ONGC, Mahindra & Mahindra, Hundustan Unilever, Tata Power and Hero MotoCorp are also trading higher by 0.6-2.6% each.
On the other hand, TCS, L&T, Wipro, Sun Pharma, Coal India, SBII and Tata Steel were among the notable losers.
Among the individual stocks, Apollo Hospitals Enterprises has surged 10% to Rs 526, recovering more than half of its 14% fall Thursday, after the company clarified on enquiries with regard to the recent allotment of 3.09 million equity shares of Rs 5/- each to Dr. Prathap C.
Spanco has surged 10% to Rs 72 on news that the company has received a five-year tax holiday from Nigeria for creating more jobs in the country's outsourcing sector.
Most of the shares of rate sensitive sectors such as automobiles, real estate and banking are trading marginally higher. The BSE Auto index has jumped nearly 1.6% to 8,304 levels. Bankex and Realty indices are also trading marginally higher.
The consumer durable stocks are witnessing buying in today's session. The BSE Consumer Durables index has jumped, nearly 2% to 5,411. FMCG, Oil & Gas, Power, Healthcare and PSU indices are also trading in the green.
At the same time, Capital Goods and Metal indices are in the red.
From the auto space, Bajaj Auto is the top gainer, up 2.3% to Rs 1,694. Tata Motors, Mahindra & Mahindra, Hero MotoCorp and Apollo Tyres are also trading higher. Titan Industries is the top gainer from consumer durable stocks. It is followed by Videocon, Bajaj Electricals, VIP Industries and C Mahendra Exports.
The mid-cap and small-cap indices have added around 0.5% each.
The overall market breadth is positive as 1,407 stocks are advancing while 1,032 are declining.