Indian stock indices traded largely on a steady note Tuesday morning as investors stared at the the Reserve Bank of India's bi-monthly monetary policy review for fresh cues.
Retail inflation in India having moderated sharply in April substantiated the Reserve Bank of India's (RBI) decision to pause the repo rate in its first 2023 monetary policy meeting, according to SBI Research.
Indian stocks traded largely steady Monday morning as investors at large are eyeing the outcome of the three-day Reserve Bank of India's monetary policy committee meeting, the first in 2023-24, starting today.
Minutes of the latest monetary policy meeting of the US Federal Reserve showed some of the participants noted that the probability of the economy entering a recession in 2023 remained elevated.
The US central bank's policy rate is now in a target range of 4.25-4.50 per cent, the highest level in 15 years, and notably, it was near zero in the early part of 2022.
At the time of writing this report, Sensex traded at 62,600.88 points, down 233.72 points or 0.37 per cent, whereas Nifty traded at 18,627.45 points, down 73.60 points or 0.39 per cent.
The Reserve Bank of India's three-day monetary policy committee meeting commences today. Financial markets will be keenly watching the committee's stance as consumer inflation is still above the 6 per cent target band.
The Reserve Bank of India's three-day monetary policy committee meeting is set to commence today. Financial markets will be keenly watching the committee's rate hike stance if any, as inflation is still above the 6 per cent target band.
Mumbai (Maharashtra) [India], September 28 (ANI): The monetary policy committee of the Reserve Bank of India is all set for its bi-monthly review meeting starting today.