13 hrs ago
Indian Stocks Edge Higher Ahead of RBI Rate Decision
Indian share prices started Tuesday a little higher.
The Sensex and Nifty both opened above their previous levels.
Some groups of companies, including metals and private banks, saw gains.
Auto, medicine and technology shares faced selling.
Investors are paying close attention to a meeting of India's central bank.
The meeting began Monday and lasts three days.
The bank is expected to announce its decision on Wednesday.
Its repo rate was 5.25%, and investors are watching to see if it changes.
The Sensex opened 78 points higher at 72,460.59 on Tuesday.
The Nifty 50 opened 27 points higher at 22,583.45.
Metals, private banks, media and FMCG shares gained, while auto, pharma and IT faced selling pressure.
The RBI's three-day Monetary Policy Committee meeting began Monday, with its decision due Wednesday.
The RBI had kept the repo rate unchanged at 5.25%; markets were watching for a possible increase.
- Who
- Indian stock markets and the Reserve Bank of India's Monetary Policy Committee.
- What
- The Sensex and Nifty opened higher ahead of the RBI's repo rate decision.
- Where
- India.
- When
- The markets opened Tuesday; the policy meeting began Monday, and the decision is due Wednesday. The article says the meeting runs October 5-7.
- Why
- Investors were watching for the RBI's decision on the repo rate amid rising inflation and crude oil prices.
Key facts
- Sensex opening
- 72,460.59, up 78 points
- Nifty 50 opening
- 22,583.45, up 27 points
- Current repo rate cited
- 5.25%
- Policy meeting
- RBI Monetary Policy Committee meeting, described as a three-day meeting
- Decision due
- Wednesday
- Gaining sectors
- Metals, private banks, media and FMCG
- Sectors under selling pressure
- Auto, pharma and IT
Sources
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