Market LIVE: SGX Nifty hints weak start for Sensex, Nifty on F&O expiry; Repo rate may be hiked to 6% by March

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 were likely to open in red on Thursday, a day of weekly F&O expiry, as suggested by trends on SGX Nifty.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to open in red on Thursday, a day of weekly F&O expiry, as suggested by trends on SGX Nifty. Nifty futures were ruling at 16,260, down 89 points or 0.54 per cent on Singaporean Exchange. In the previous session, BSE Sensex fell 215 points or 0.4 per cent to settle at 54892, while Nifty 50 index shut shop at 16356, down 60 points or 0.4 per cent. The RBI on Wednesday hiked the policy rates by 50 bps to 4.9% and echoed further tightening would be calibrated by ensuring adequate liquidity in the system. Asian stock markets were seen trading mixed while US stock indices ended lower in overnight trade on Wall Street.

Citing the aggressive wording to tame inflation, analysts expect the Reserve Bank to deliver more rate hikes during the current fiscal and take key policy rates to well above the pre-pandemic levels. Earlier in the day, the RBI-led MPC delivered a 50 bps hike in the key policy rates to 4.90 per cent but left the cash reserve ratio unchanged and sounded more concerned about inflation management, as it has withdrawn the accommodative stance.

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