Markets open flat; Sensex at 33570 points

Domestic equities staged a strong comeback on Thursday

The Sensex has so far touched a high of 33614.49 points and a low of 33,554.46 points during the intra-day trade.

HDFC Bank's chief economist Abheek Barua, however, feels that it was "an unexpectedly dovish policy with the RBI highlighting inflation risks (oil, procurement prices, HRA for government employees) but at the same time revising their forecasts downward".

The Reserve Bank also said India's economic growth rate is expected to strengthen to 7.4% in the current fiscal, from 6.6% in 2017-18, on account of revival in investment activity.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,289.96 points, closed at 33,596.80 points - up 577.73 points or 1.75 per cent from its previous session's close. It finally ended 351.56 points, or 1.05 per cent, down at 33019.07.

Sensex took a breather on Friday after Thursday's 577 point rally as traders book profit in recent gainers.




China's move led to worries that the two nations may be heading towards an all-out trade war.

A string of positive domestic cues, including forecast of a normal monsoon and encouraging services sector PMI data, added to the buying momentum, brokers said. The BSE Sensex fell almost 100 points to retest the 33,500 level while the Nifty50 index fell over 30 points to briefly break the 10,300 level.

The BSE market breadth, however, was bullish with 713 advances and 498 declines.

Nifty Bank, Auto, Metal and Realty were up 2-4 percent. Nifty 50, the benchmark index of National Stock Exchange, jumped up by 200 points closing at 10329.

In other Asian Markets, Hong Kong's Hang Seng gained 1.03 percent while Japan's Nikkei rose by 0.13 percent in early trading. At 9.15am, the home currency was trading at 65.02 a dollar, up 0.19% from its Wednesday's close of 65.15.

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