Moneycontrol PRO

Sensex volatile ahead of credit policy review

Indian equities were moderately lower amid choppy trade at 10:44 hours, awaiting for the credit policy review today. Profit booking in technology, metal and auto companies' shares was keeping the Nifty tad below the 5500 mark.

March 17, 2011 / 10:57 AM IST

Indian equities were moderately lower amid choppy trade at 10:44 hours, awaiting for the credit policy review today. Profit booking in technology, metal and auto companies' shares was keeping the Nifty tad below the 5500 mark. Reliance Industries, ITC, HDFC, ICICI Bank, Reliance Industries, NTPC and Bharti too were adding some pressure.


However, buying in stocks like HDFC Bank, ONGC, BHEL, SBI and L&T was limiting those losses. Anil Dhirubhai Ambani Group and cement companies' shares too were quite supportive.


Inflation control is expected to remain the central bank's focus in its mid-quarter review today. RBI Governor D Subbarao is clearly in a dilemma over inflation management and growth.


A CNBC-TV18 poll of bankers and economists shows that 70% of those polled expect the RBI to hike the repo rate by 25 bps to 6.75%. 65% expect a 25 bps hike in the reverse repo rate to 5.75%.

Ramnath Pradeep, CMD of Corporation Bank, said

first published: Mar 17, 2011 10:48 am

stay updated

Get Daily News on your Browser