Markets erase morning gains to turn flat ahead of RBI policy decision

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Latest News – Benchmark indices erased morning gains to turn flat as investors stay cautious ahead of the EBI policy Decision due later today. According to analysts, the central bank may opt for a less hawkish tone and will leave interest rates unchanged as inflation is running well below forecasts, and the economy has slowed more than expected. Better than expected monsoon forecast by IMD added to the gains.

Focus was also on Britain’s general election as it maps its exit from the European Union. British Prime Minister Theresa May looks on course to increase her parliamentary majority in Thursday’s poll. While the European Central Bank’s policy meeting and former FBI Director James Comey’s testimony before a Senate panel, kept the global stocks mixed.
At 12:44 pm, the S&P BSE Sensex was trading at 31,192, up 2 points, while the broader Nifty50 was ruling at 9,638, up 2 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% each.

“The indecisiveness near 9,700 has not caused any (Read More)

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