-Indian markets ended higher ahead of RBI MPC outcome due tomorrow
-The markets were led by banking, financial, and IT stocks
-Crude oil prices softened a bit and a decline was also seen in US Yields
-Sensex was up 406 pts and closed above the 65K mark
-Nifty was up 110 pts and closed above the 19,500 mark
Gainers and losers of the day
L&T, M&M, Titan, TCS, and Maruti were the gainers, while Power Grid, Nestle, NTPC, HCL Tech and Bajaj Finance ended with cuts.
Stocks in news
-Sobha was up 7% after it reported record sales for the second quarter
-It was the top gainer on the realty index, which is up 0.3%
-Marico – fell 5% after it flagged a slide in quarterly revenue due to weakness in rural recovery
-Nazara Technologies closed 5.6% higher after the company acquired a 100% stake in game marketing agency PublishME for $2 million
Nifty Smallcap 100 gained 0.6%, while Nifty Midcap 100 closed flat.
Global Markets
Asian and European markets posted modest gains and rebounded from previous losses after a strong lead from Wall Street
Tokyo was up by 1.7%. Hong Kong ended marginally up.
Singapore, Jakarta, and Kuala Lumpur were also up. Markets in mainland China were closed for a week-long holiday.
Oil and Rupee
Oil prices fell due to bleak macroeconomic outlook and fuel demand destruction post OPEC+ meeting led by Russia
Brent crude oil futures fell by $1.34 and closed at $84.47 a barrel, while US WTI declined $1.45 to $82.79.
The Indian rupee closed little changed and closed at 83.25 against the US dollar.
