MARKET EYE-Indian shares rise; rate-sensitive stocks lead

Fri Jan 25, 2013 2:13pm IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

* The BSE index rises 0.56 percent and the 50-share NSE
index is up 0.47 percent as rate-sensitive stocks lead
the rally ahead of a crucial central bank meeting on Tuesday.
* Although most economists expect the RBI to cut its policy repo
rate by 25 basis points in the policy meeting, a
bigger-than-expected reduction can bolster market sentiments.
* ICICI Bank Ltd gains 1 percent, while State Bank of
India rises 1.5 percent.
* Public sector banks such as Bank of Baroda and Bank
of India rise 4.4 percent and 4.08 percent respectively
as their valuations are cheap compared with private banks.
* Tata Motors shares rise 2.5 percent, recovering form
a 6.3 percent fall on Thursday that had been sparked by concerns
over Jaguar Land Rover unit's EBTIDA margins. 
* Mahindra & Mahindra shares gain 2.2 percent.
* Property shares that benefit from lower rates also gain. DLF
 rises 0.9 percent, while Unitech is up 5
percent after falling 7 percent on Thursday.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
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