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The BSE Sensex rebounded after the Reserve Bank of India cut repo rate from 8 per cent to 7.75 per cent. The central bank has also cut the Cash Reserve Ratio by 25 basis points, which will add Rs. 18,000 crore in liquidity to the economic system.
Strong Q1 results lift Hindalco further:Hindalco Industries jumped over 3 percent to Rs 150.80 on BSE, with the stock extending previous trading session's gains triggered by the company reporting strong Q1 June 2016 earnings.Meanwhile, the S&P BSE Sensex was down 109.45 points or 0.39 percent at 28,042.95.On BSE, so far 7.19 lakh shares were traded in the counter as against average daily volume of 14.29 lakh shares in the past one quarter.
Indian stock markets extended losses where both NSE Nifty and BSE Sensex tumbled as much as 1%. The 50-share index Nifty hit below 8350 mark and closed at 8346 while the 30-share index Sensex shed 274 points and closed just above 27000 mark at 27034.
Bank Nifty Tips : The S&P BSE Sensex slided over 100 pts on today tracking weakness seen in other Asian markets. While the Nifty50 also started on a weak note & broke below its critical psychological level of 8250.