Banks rallied ahead of the policy review while power, metals capital goods and consumer durable stocks slipped.
Moneycontrol News
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Moneycontrol News
The Reserve Bank of India (RBI) looks set to keep its policy rate on hold on Wednesday.
Inflation accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus. The repo rate would be left at 6 percent, the lowest since November 2010.
In August, the RBI made its only cut in 2017, of 25 basis points, and in October, it retained status-quo.
The central bank is likely to reiterate a “neutral” stance, thus giving itself flexibility to cut rates in February.
The Nifty Tuesday closed at the same level where it opened, Index is trading below its short term moving averages.
Banks rallied ahead of the policy review while power, metals capital goods and consumer durable stocks slipped.
For more, watch the Markets@Moneycontrol show. Moneycontrol Editor Santosh Nair talks to Anchal Pathak on the markets trends to watch out for today.
