AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

Indian shares ended broadly unchanged, as hopes the central bank would cut interest rates this week lifted some rate-sensitive firms, but Sun Pharmaceutical Industries slumped after posting disappointing earnings. The Reserve Bank of India is due to hold its policy review on Tuesday and most analysts expect the central bank to ease rates by 25 basis points after cutting rates by the same amount in January and again in March.
Rate-sensitive firms were among the day's gainers, with Housing Development Finance Corp ending up 1 percent. However, Sun Pharma fell 9.2 percent to its lowest since Feb. 27 after posting January-March earnings that were well below forecasts. The benchmark BSE index ended up 0.07 percent at 27,848.99 points after earlier gaining as much as 0.5 percent.
The broader NSE index ended flat at 8,433.40 points. Traders will also look for any RBI action to ease liquidity, given bankers have blamed tight cash conditions as a key reason that is preventing them from lowering lending rates and transmitting monetary policy to the broader economy. A rate cut is expected despite data on Friday showing the economy grew an annualised 7.5 percent in the January-March quarter - faster than in China - amid widespread scepticism about the methodology used to calculate the data.
"A 25 basis point rate cut is already priced in by a large section of the market," said Gaurang Shah, vice-president, Geojit BNP Paribas. "Rate cut benefits are not looking visible on the end consumer segment or corporates." Rate-sensitive firms were among the leading gainers, with State Bank of India up 0.68 percent, while Housing Development Finance Corp was higher 1 percent. But Sun Pharmaceutical Industries Ltd slumped as much as 10 percent to its lowest since Feb. 27 after posting January-March earnings that were well below forecasts.

Copyright Reuters, 2015

Comments

Comments are closed.