The key indices pared gains to turn flat after BSE Sensex and NSE Nifty crossed fresh record high before the RBI meet result due later today. At 10.35 am, the Sensex, rose up 14.03 points or 0.04% at 32,589.20, while the Nifty50 down 7.15 points at 10,107.50. Markets expect the RBI to cut interest rates at least by 25 base point to 6 percent after inflation slumped to a record low of 1.54%. The market will be on watch whether the central bank will give indication to ease more.
Fertilizers companies’ shares were in limelight, rising up to 15 percent on BSE in intraday trade today. Nagarjuna Fertilisers, Rashtriya Chemicals & Fertilizer, Deepak Fertilizers, and Petrochemicals Corporation were increased more than 4 percent each.
The RBI monetary policy meeting is scheduled at 2.30 PM today, 2 August 2017. The reverse repo rate under the LAF keep at 6%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.5%.
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