Flat opening expected; Zomato, Reliance, InterGlobe Aviation in focus ahead of RBI decision
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Indian stocks looked set for a muted start on Friday after benchmark indices snapped their seven-day gaining streak the previous day. SGX Nifty futures traded lower by 3.5 points or 0.02% at 21,073 ahead of the market open, signaling flat-to-negative moves initially.
On Thursday, markets closed lower amid high volatility. The BSE Sensex shed 132.04 points, or 0.19%, to end at 69,521.69. Meanwhile, the NSE Nifty 50 index dropped 36.50 points, or 0.17%, settling at 20,901.20. Despite the decline, the overall market trend remained positive.
Global cues were also somewhat supportive after Wall Street indices closed higher overnight. However, investors’ focus will now turn to the RBI’s monetary policy meeting outcome scheduled later today.
RBI Governor Shaktikanta Das is expected to announce the rate decision around 10 AM. With the policy announcement looming, some stocks that could be in focus today include Zomato, Reliance Industries and InterGlobe Aviation.
The session could see a tentative start tracking global peers and ahead of the RBI decision. Key indices may struggle to build on the recent upmove amid a cautious mood.