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Stock Market Live: Sensex Climbs, Nifty Stays Flat (Img: Pinterest)
Mumbai: Equity indices of India traded on a cautious note in the early hours of Wednesday morning as the market was waiting for the announcement of RBI's monetary policy. As far as BSE Sensex is concerned, it has appreciated while Nifty 50 is almost flat in its price movement anticipating an unchanged interest rate.
At 9:37 am, BSE Sensex rose 0.44% to 78,775 while Nifty 50 dropped 0.02% to 24,610.20.
The market is anticipating that the RBI's MPC will continue the current interest rate level. Investors will be watching the statements from the governor of the RBI, Mr. Sanjay Malhotra, regarding inflation, growth, and future policy stance.
It is expected that the increasing price of crude oil along with inflationary pressure due to the monsoon, will play an important role.
While benchmark indices showed mixed trading action, the broader markets managed to stay ahead. Mid-cap and small-cap indices rose by 0.8% and 0.6%, respectively, to register new all-time highs as the buying activity was quite healthy.
The majority of the sectoral indices were trading in the green zone.
In terms of stock performance, Airtel was among the stocks to have risen by 3% after it reported a positive quarterly performance due to additions in subscribers and average revenue per user.
Meanwhile, Deepak Nitrite rose about 3.5% after the company posted an unexpected uplift in profits for the June quarter.
Investor sentiment also received support from softer crude oil prices. Brent crude slipped to around $78.5 per barrel amid optimism over progress in diplomatic efforts in the Middle East, easing concerns over inflationary pressures.
The RBI's policy announcement later in the day is expected to set the tone for domestic markets and influence trading sentiment in the coming sessions.
