Stock To Watch: Nifty Rebound & Axis Bank Jumps

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The Indian stock exchange bounced back with moderate gains amid mixed international cues on Wed. The Sensex rose fifty three.49 points to 26721.45 and therefore the keen advanced twenty.70 points to 8180.80. Benchmarks reacted completely to better-than-expected GDP knowledge at seven.9 p.c for the fourth quarter FY16 and five-year high of seven.6 p.c for full year. Axis Bank, ITC, M&M, BPCL and Tata Power were early gainers whereas Tata Motors, ICICI Bank, NTPC and SBI declined. The Indian monetary unit opened flat at sixty seven.24 per dollar against previous shut of sixty seven.26. Bansi Madhvani of Asian country Ratings feels prospects of Fed rate hike can keep international markets on tenterhooks, however is unlikely to be majorly unquiet for the rupee. in keeping with him, the rupee is probably going to carry within the vary of sixty seven.05-67.75/dollar in the week, with concentrate on U.S. employment knowledge. The U.S. dollar was principally flat against a basket of major currencies when U.S. economic knowledge did not support expectations for a Gregorian calendar month or Gregorian calendar month FRS charge per unit hike.