29 January 2014

MID DAY UPDATE FOR 29 JAN 2014

Stock market held firm in mid-morning trade.the S&P BSE Sensex, was up 106.19 points or 0.51%, up 28.60 points from the day's low and off 38.98 points from the day's high. The market breadth, indicating the overall the market, was strong. Gains in Asian stocks underpinned sentiment on the domestic bourses.
Pharmaceutical stocks were in demand on renewed buying. Sun Pharmaceutical Industries extended intra day gain. Reality stocks extended Tuesday's gains after Reserve Bank of India (RBI) Governor Dr. Raghuram Rajan said after the central bank's surprise hike in repo rate on Tuesday, 28 January 2014 that once inflation comes down to comfortable levels, the RBI would have some room to cut rates.
Key benchmark indices edged higher in early trade on firm Asian stocks. Key benchmark indices trimmed initial gains in morning trade. Key benchmark indices held firm in mid-morning trade.
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