Share Market LIVE: Sensex, Nifty likely to open flat ahead of RBI policy 

Good morning!

Indian equity market fell for the third straight session on Thursday, tracking heavy losses in index-heavyweights HDFC twins, TCS and Reliance Industries amid weak global cues. Sensex slumped 575.46 points to end at 59,034 and Nifty declined 168.10 points to 17,639.55.

The Indian equity market is likely to open flat ahead of RBI policy meet outcome.

Here are all the latest updates.

8:50 am: RBI MPC meet outcome for new financial year today

The Reserve Bank of India's (RBI) Governor Shaktikanta Das will announce the first monetary policy of the new financial year on Friday in the wake of concerns over rising inflation. 

The central bank's Monetary Policy Committee (MPC), headed by Das, is likely to maintain status quo on interest rates but change its monetary policy stance on account of retail inflation upsetting its upper tolerance limit, geopolitical developments amid the ongoing Russia-Ukraine war, and the exigency to safeguard as well as boost growth.

The RBI's rate-setting panel started its three-day meet on Wednesday to deliberate on firming up the next bi-monthly monetary policy. Read more

8:45 am:  FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 5,009.62 crore on April 7, and domestic institutional investors (DIIs) purchased shares worth Rs 1,774.70 crore, as per provisional data available on NSE.

8:40 am: Global updates

The S&P 500 ended higher on Thursday, with Pfizer and Tesla fueling a late-session rally while investors eyed the war in Ukraine and a potentially more aggressive Federal Reserve. Tesla Inc rose 1.2 percent and Microsoft Corp added 0.6 percent, helping lift the S&P 500 and provide the Nasdaq a modest gain.

The Dow Jones Industrial Average rose 0.25% to end at 34,583.57 points, while the S&P 500 gained 0.43 percent to 4,500.21. The Nasdaq Composite climbed 0.06 percent to 13,897.30.

Shares in Asia-Pacific rose on Friday after a comeback on Wall Street as investors continued to digest the Fed’s plans to fight inflation. The Nikkei 225 gained 0.45 percent in early trade, while the Topix advanced 0.19 percent. Australia’s S&P/ASX 200 rose 0.35 percent. In South Korea, the Kospi climbed 0.38 percent.

8:30 am: SGX Nifty

The Indian equity market is likely to open flat today as SGX Nifty was trading 25 points higher at 17,765.50.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Thursday

Indian equity market fell for the third straight session on Thursday, tracking heavy losses in index-heavyweights HDFC twins, TCS and Reliance Industries amid weak global cues. Sensex slumped 575.46 points to end at 59,034 and Nifty declined 168.10 points to 17,639.55.

Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Limited, and Power Grid were the top Sensex losers, falling up to 3.24%

Axis Bank, Hindustan Unilever, ICICI Bank, M&M, and Dr Reddy's were among the top Sensex gainers, rising up to 2.38%.

Investors await cues from the RBI policy meeting outcome, which will be announced today.