Investors eye policy outcome of the meeting, headed by RBI governor Shaktikanta Das, to be announced Thursday. A majority of analysts expect the RBI will continue to keep the repo rate unchanged at 6.5 per cent.
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.
Indian stock indices traded on a positive note Monday morning, extending gains from the previous week on expectations that the RBI will continue to keep the repo rate unchanged in its upcoming monetary policy review meet later this week.
Benchmark indices Sensex and Nifty closed about 0.3 per cent lower each. The fall in indices could be attributed to profit booking by investors after the latest consistent rally in Indian stocks.
More than estimated GDP numbers in India, sustained foreign buying, and the US House of Representatives has passed the US debt ceiling bill indicating that the debt impasse will be resolved and will put less pressure on its economy are some of the major reasons which supported the stocks
BSE 30-share Sensex lost 262 points to 62,706.71 and NSE Nifty 50 dropped 69 points to 18,565.35 in morning trade on Wednesday. Some of the gainers on NSE Nifty were HDFC Life, Sun Pharma, Asian Paints, HCL Tech and Eicher Motors.
BSE 30-share Sensex went up 123 points to settle at 62,969.13 and NSE Nifty surged 32 points and ended at 18,633.85 on Tuesday. According to data, about 1,640 shares advanced, 1,766 shares declined, and 112 shares unchanged.
BSE 30-share Sensex went up 345 points and settled higher at 62,846 while NSE Nifty surged 99 points and ended at 18,599. Nifty had an intra-day high of 18,641. The Bank Nifty hit a fresh all-time high at 44,483. BSE banking index eventually ended 0.7 per cent higher at 44,312.