MARKETS: Flat start likely ahead of RBI policy outcome; SGX Nifty up 30 pts

MARKETS: Flat start likely ahead of RBI policy outcome; SGX Nifty up 30 pts


LIVE market updates: The key benchmark indices are likely to start Thursday’s session on a muted note with mild gains ahead of the crucial RBI meeting outcome. At 8:05 am, the SGX Futures were quoting 17,510 level, up 30 points from Nifty’s spot close the previous day.

The decision could be a key driver for the market in the near term as it may impact liquidity and interest rates. Experts believe a 25 bps points hike in reverse repo rate is on the cards.

Among stocks, Amara Raja Batteries, BEML, Hero MotoCorp, Industries, Dr Lal Pathlabs, Lemon Tree Hotels, M&M, Quess Corp, and Trent will report their quarterly earnings today.

Nykaa, ACC, SAIL and Tata Power may also be in focus as investors will react to their Q3 numbers announced on Wednesday. READ MORE.

Global cues

The US indices ended with smart gains on Wednesday amid a fall in 10-year Treasury yield. Dow Jones gained 0.9 per cent, the S&P 500 jumped 1.5 per cent and Nasdaq surged 2.1 per cent. On Thursday, the will look for cues from numbers, which analysts expect to hit a four-decade high at 7.3 per cent.

Oil prices, also, rose on Wednesday after US inventories reported a decline of 5 mn barrels, indicating higher demand. Brent crude futures advanced 0.9 per cent to $91.55 a barrel, and WTI crude ended 0.3 per cent up at $89.66 a barrel.

Major in Asia lacked direction in early trades this morning. Nikkei, Kospi and Taiwan were up – up to 0.3 per cent, while on the other hand, Hang Seng, Shanghai Composite and Straits Times were down – up to 0.3 per cent.

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