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Indian markets rally ahead of RBI policy tomorrow

July 25th, 2011

The Indian stock markets had a stellar rally today lead by Reliance Industries and the telecom stocks. The markets had a flat opening at the start, with almost all major Asian markets trading in the red at that time. They caught speed as trades continued to flow in and by the time the European markets opened, our markets had a clear direction towards the upside. The BSE Sensex is up 148.99 points while the Nifty closed the day up 46.35 points.

There are big gainers in today’s list. Including Reliance Communication which surprisingly is up 15.12%. The script moved from Rs. 93.60 to Rs. 108.70 in one single session. Its peer Bharti Airtel too has hit the 52-week high mark and close the day at Rs. 432.65 up 5.23%. Other gainers of the day include Mahindra & Mahindra,  Axis Bank, Sun Pharma, Hindalco, Sterlite Industries, Punjab National Bank etc. The top losers of the day include Cipla, Sesa Goa, ITC, Power Grid, HUL, Infosys, Grasim and Bajaj Auto that were down marginally.

NTPC (NSE: NTPC; BSE: 532555), India’s largest power generation company reported its Q1 FY12 numbers. The net profit stood at Rs. 2076 crores up from Rs. 1841.9 crores a year ago. The script opened the day at Rs. 183 and closed the day at Rs. 183.95.

Entry Filed under: Equity Markets, Closing Bell, Power