Market Open: Sensex and Nifty Show Slight Gains Ahead of RBI Policy Announcement
The Indian stock market has opened on a positive note today, with the Sensex and Nifty showing slight gains ahead of the Reserve Bank of India’s (RBI) policy announcement. The Sensex was trading at 63,200.26, up by 57.30 points, or 0.09%, while the Nifty was trading at 18,739, up by 12.60 points, or 0.07%.
Top gainers on the Nifty included Hero MotoCorp, Power Grid Corp, NTPC, JSW Steel, and Nestle, while the top losers were Kotak Mahindra Bank, BPCL, Eicher Motors, Axis Bank, and HCL Technologies.
Investors are eagerly awaiting the RBI’s policy announcement, which is expected to focus on measures to support the economic recovery from the impact of the COVID-19 pandemic. The central bank is widely expected to maintain its accommodative stance and keep interest rates unchanged.
Market experts believe that the RBI may announce further measures to boost liquidity in the market and support the banking sector, which has been adversely affected by the pandemic.
Investors will also be closely watching the global cues, especially the US Federal Reserve’s policy decision, which is also scheduled for today. Any major announcement by the Fed could impact the Indian markets.
Overall, the market sentiment remains positive, with investors hoping for a speedy recovery from the pandemic-induced slowdown. The Sensex and Nifty are expected to remain volatile in the coming days, with investors closely monitoring the RBI’s policy stance and other global developments.
Stay tuned for more updates on the Indian stock market.
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