Stock market LIVE updates: The benchmark indices are likely to start trade on a negative note amid unsupportive global cues. As of 8:30 AM, the SGX Nifty futures quoted at 16,540, indicating a cut of 40-odd points. 

All eyes will be on the Reserve Bank of India, which will begin its three-day monetary policy committee (MPC) meeting later today. With inflation showing no sign of abatement, the central bank is likely to increase benchmark lending rate by at least 35 basis points (bps) this June.

Primary market

The primary market...