Stocks below Rs 100: Only buyers seen in these scrips on June 8

Reserve Bank of India hiked the repo rate by 50 basis points to 4.90 per cent in its bi-monthly MPC meeting on Wednesday morning. RBI has now officially taken a withdrawal stance from an extraordinary accommodative stance earlier

At 2.30 pm on Wednesday, the core equity indices, i.e. Sensex and Nifty 50 were trading on the lower side as the markets reacted to the rate hike by RBI.  

Reserve Bank of India hiked the repo rate by 50 basis points to 4.90 per cent in its bi-monthly MPC meeting on Wednesday morning. RBI has now officially taken a withdrawal stance from an extraordinary accommodative stance earlier. The standing deposit facility (SDF) and marginal standing facility (MSF) rates got raised by 50 basis points. The standing deposit facility rate is now 4.65 per cent while the marginal standing facility rate is now 5.15 per cent.   

The inflation is projected at 6.7 per cent for the current fiscal year. RBI Governor said that Q1 inflation is expected to be at 7.5 per cent while 7.4 per cent in Q2. In Q3, inflation was seen at 6.2 per cent before falling to 5.8 per cent in Q4. Around 75 per cent of the increase in inflation is attributed to the food group.  

On the other hand, the real GDP growth for the current year has been retained at 7.2 per cent. RBI believes that Q1 will see GDP growth at 16.2 per cent while Q2 GDP growth is expected to be at 6.2 per cent, Q3 is seen at 4.1 per cent and Q4 GDP numbers are expected to be at 4 per cent.  

Sensex was at 54,825.60, down by 281.74 points or 0.50 per cent while Nifty was at 16,339.25, down by 77.10 points or 0.47 per cent from the last trading session.                       

The Top Gainers in Nifty 50 pack are Tata Steel, SBI, ONGC, Titan Company, and JSW Steel. Meanwhile, the Top Losers pulling down the index are Bharti Airtel, Reliance Industries, IndusInd Bank, ITC, and Bajaj Auto.  

BSE Smallcap index is trading at 26,009.28, down by 0.21 per cent. The top gainers in the pack were KPI Green Energy,Everest Industries, Asian Energy, Mangalore Refinery & Petrochemicals, and ITD Cementation India. Each of these stocks has gained more than 5 per cent. Similarly, the top losers include Aptus Value Housing Finance India, GNFC, Uttam Sugar Mills, Polycab India, and Elecon Engineering Company.  

On the sectoral front, all the sectors were trading in the red except for BSE Realty, which was up by 1.72 per cent, followed by BSE Metal and BSE PSU Banks.  

Following is the list of low-priced stocks that got locked in the upper circuit on Wednesday. Keep a close eye on these counters for the upcoming sessions: