Sensex Chopi, Nifty below 24,650 amid investor caution before RBI MPC rate decision

Domestic benchmark indicators traded on a book note on Wednesday as investors were waiting for the announcement of the Reserve Bank of India (RBI) policy, in which the proposed U.S. The status of rates and dovish tone was expected between external risks, including tariffs.

After opening the marginally Higher, the BSE Sensex was at 61 points or 0.07%, at 80,632, while the Nifty was down 50 33 points to 24,616.

From the Sensex Pack, Bharti Airtel, Adani ports, Bell, Maruti and Power Grid Higher are open, while Sun Pharma, Infosys, Eternal and Tech Mahindra are trading low.

Meanwhile, the RBI is expected to remain unchanged at 10:00 am in its policy decision, after cutting a surprising 50-base-point in June and turning to a “neutral” trend.

While the RBI had previously suggested a limited room for further ease, hopes of growth-support and Dovish tone have increased following the proposed 25% tariffs of the US on Indian goods.

US President Donald Trump said tariffs on imported pharmaceuticals could increase by 250%, followed by Nifty Pharma and Healthcare Indicators in the initial trade more than 1%.

“We will initially put small tariffs on the pharmaceuticals, but in one year, and the year, the maximum, it will go to 150% and then 250%,” Trump said, because we wish pharmaceuticals in our country.

Expert

“President Trump’s rhetoric and actions will continue the weight of the markets in the near term. Response to India’s rhetoric and actions, so far, has been strong and measured. For short -term and unreasonable demands for the US administration, this means that this is the main demand for this donation. Vijay Kumar said that the growth has dropped to.2.5 % compared to the .5..2 % earlier.

Vijay Kumar added that the decision of today’s monetary policy is unlikely to significantly influence the market. The big impact in the market will be Trump’s quarrel.

“After the flat opening, the Nifty can get support after 24,600 and 24,500 and 24,400. On the high side, 24,700 may be immediate resistance, followed by 24,800 and 24,900,” said Hardik Metalia, a derivative analyst of Choice Broking.

Global markets

On Wednesday, the Asian Share Wall LL Street slipped, when poor US data released the tariff of economic activity and loss on earnings, while D Dollar Lar was struggling with a lower bond yield.

Asia-Pacific shares outside Japan, MSCI’s widespread indicators dropped 0.2%, while Japan’s Nikkei gained a small 0.2%.

Both Chinese Blue Chips and Hong Kong’s Hang Seng Index were flat. Nasdaq futures dropped 0.3% and S&P 500 futures by 0.1%.

Fii/dii tracker

Foreign institutional investors (FIIs) sold an equity of Rs 22 crore on August 5, while domestic institutional investors (DIIs) bought an equity of Rs 3,840 crore on the same day.

Raw oil

Oil prices rose at five weeks lower on the previous day, on concerns of supply disruptions after US President Donald Trump threats his Russian crude threats on India.

Brent crude futures rose 43 cents by 0330 GMT, or 0.6%.0 68.07 to $ 68.07, while the US West Texas intermediate crude rose 40 cents or 0.6%at a barrel .5 65.56.

Rupees vs Dollar

The Indian rupee has risen 16 paise to 87.72 against the US Dollar Lord in the initial trade. The Dollar Ler Index, which is looking for a greenback movement against a basket of six major world currencies, has dropped 0.06% to 98.72 levels.

(With inputs of agencies)