Page 12 - Prashanth Tapse News Today

Buying in index major Reliance Industries also fuelled the rally in equities

The 30-share Sensex opened at a new high of 74,555.44, up 307 points, or 0.41 per cent. It reached a high of 74,658.95 in the morning trades. The Nifty opened at 22,578.35 compared to previous close of 22,513.7. The index touched a new peak of 22,623,9 in the morning trades.

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Indian blue-chip indices opened lower due to IT, metal, and auto stocks before RBIs monetary policy. Tech Mahindra, JSW Steel, L&T, and others showed mixed performance.

This is giving undue advantages to air cooling solutions players discounting the higher demands in Q1FY25 sales. Over the medium-term, demand outlook we expect a higher 2 digit sales growth can be reported due to warning headlines, said Prashanth Tapse, Mehta Equities Ltd.

Investors could exercise caution ahead of the RBI policy later this week, though the central bank is largely expected to hold rates steady, experts say

Weakness in the financial services and information technology sectors weighed on the Nifty and the Sensex. For the Nifty, support is at 22,400 and resistance at 22,550

IndusInd Bank, HDFC Bank, Tata Steel and Titan were among the gainers

The 30-share pack BSE Sensex declined 110.64 points, or 0.15 per cent to settle at 73,903.91. NSE's Nifty50 index shed 8.70 points, or 0.04 per cent, to end at 22,453.30 for the day.

(This story has not been edited by THE WEEK and is auto-generated from a PTI