FIRST TRADE: Sensex up over 150 pts; Nifty tests 19,600 ahead of RBI policy outcome

Stock market today: The domestic equity market opened in positive territory on Friday, October 6, ahead of the outcome of the RBI policy meeting. A slide in global oil prices, too, aided investor sentiment. 

In the opening deals, the S&P BSE Sensex was trading 183 points, or 0.28 per cent lower at 65,814.71 while the NSE's Nifty was trading at 19,605.75, up 60 points, or 0.31 per cent.

"Despite the sluggish US market close in overnight trades, sharp gains in the Asian pack would aid sentiment in local market trades. However, one may see sharp, volatile moves just hours before the monetary policy announcement. It will be business as usual if the RBI maintains the status quo on policy rates, but any tinkering with the rates could trigger a sharp gyration in the market," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Falling crude oil prices below $83 a barrel would bolster the sentiment, and no end to FII selling of local shares would continue to keep investors on the edge. The Bank Nifty will be in focus today as the immediate support is seen at the 43,600 mark, Tapse added.

In the broader market, Nifty Mid Cap 100 and Small Cap 100 both traded higher. 

Nifty Bank was up 0.25 per cent at 44,325.90.

BUZZING STOCKS 

Kalyan Jewellers India shares were up over 4 per cent after its Q2 consolidated revenue growth was up 27 per cent.

Bajaj Finance stock edged higher by over 1 per cent after the board approved raising Rs 10,000 crore.

InterGlobe Aviation shares edged higher by over 1 per cent after a fuel surcharge was implemented for domestic and international flights.

JSPL, Hindalco, JSW Steel, and Tata Steel shares traded positive after Macquire raised its target.

Conversely, Utkarsh Small Finance Bank shares were down over 1 per cent after the company released its Q2 business update.

Som Distilleries & Breweries shares were down over 3 per cent after the company launched its QIP.

Suzlon Energy shares fell over 2 per cent after the company was shifted to Additional Surveillance Measure (ASM) Stage IV.

Edelweiss Financial Services shares were also down over 2 per cent after it was shortlisted in short-term ASM. 

GLOBAL MARKETS

A lull in bond selling stretched into Asia trade on Friday, but may not last the day as investors waited on U.S. jobs data that could add to the case for keeping interest rates high for some time.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.8 per cent. Tokyo's Nikkei (.N225) was flat and currency markets were similarly steady with the dollar just off recent highs as traders looked to the labour data for guidance.

(With agency inputs) 

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