Share Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 were staring at a positive start on Wednesday, ahead of RBI policy outcome.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a positive start on Wednesday, ahead of RBI policy outcome. Trends on the SGX Nifty were positive as Nifty futures were ruling at 16,504.50, up 80 points or 0.5 per cent on Singaporean Exchange. In the previous session, stocks dipped, the 10-year bond yields touched a new three-year high and the rupee fell to a record low in intra-day trades, as markets stayed nervous ahead of the Reserve Bank of India’s monetary policy announcement on Wednesday. The BSE Sensex tumbled 568 points or 1.02% to close at 55,107. 34 as investors continued to take risk off the table. The broader NSE Nifty 50 dipped 153.20 points or 0.92% to end at 16,416.35.
The stock markets are bracing for a 40 bps hike in the key repo rate and a sharp upward revision in the central bank’s inflation forecast for FY23. Experts said they are pencilling in a peak repo rate of close to 7% by about April next year. Last month, RBI raised the repo rate or short term lending rate by 40 basis points in an off-cycle monetary policy review to check spiralling inflation.
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