Thursday market opened with a higher note. The CNX Nifty is up 141.70 points or a change of 1.76% at 8421.65 with small support by coal India, Hindalco, NTPC, Tata Power. While sensex is up 492.28 points or a change of 1.80% at 27839.90 raises by gains of BPCL, IOB, NTPC, ONGC.
CNX Auto comes with a green sign, it was trading up to 124.10 point or a change of 1.48% at 8552.40.
Shares of banking stocks rises surprisingly today as the Reserve Bank of India surprised the market by cutting repo rate by 25 basis points to 7.75 percent from 8 percent, with immediate effect, ahead of its policy review on February 3.
The Bank Nifty hit at record high of 19,410.40, up 806.6 points intraday supported by SBI , ICICI Bank and Bank of India among others. BSE Bankex also touched intra day high at 22260.34.
The Indian rupee appreciated by 38 paise to 61.80 a dollar post RBI rate cut. RBI Cuts repo rate by 25 basis points to 7.75 percent ( SBI , ICICI Bank etc in focus)
HDFC Bank shares buy call with a target of 1149 and a stoploss of 1120
SBI shares buy call target 319 and a stoploss of 304
ICCI Bank shares buy call with target 352 and a stoploss of 336