In a bleeding market, these stocks close on a high
ONGC Ltd, Gujarat Ambuja Ltd and Rain Industries Limited are today’s market movers.
Today, Reserve Bank of India governor, Shaktikanta Das announced a 40 basis points hike in the policy repo rate and a 50-basis point hike in the Cash Reserve Ratio to tackle inflation and maintain growth. This came ahead of the US Federal Reserve Policy meeting where a rate hike is expected. The equity markets tumbled further after this news and S&P BSE ended at 55,559.03, a decline of 2.29 per cent. In this market turmoil, these Group A stocks maintained their momentum and ended in green.
Oil & Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India. The share price of this PSU jumped 3.74 per cent and ended at Rs 162.25.
Gujarat Ambuja Exports Ltd is principally involved in agro-processing and trading and has focused on exports, competing in the global market. The stock of this S&P BSE SmallCap company witnessed a surge of 3.27 per cent and ended at Rs 328.70.
Rain Industries Ltd is engaged in the business of manufacturing cement, Calcined Petroleum Coke (CPC) and power. The stock price of this S&P BSE 500 company rallied 5.09 per cent and ended at 175.40.
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