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Live: Nifty reclaims 19,600 ahead of MPC meet outcome | Hero, Suzlon in focus | TVS supply chain IPO

Nifty50 closed above the crucial 19,600 mark amid a late-hour bounceback ahead of the outcome of Monetary Policy Committee meeting. Experts say the recovery raised hopes for further rally if the index manages closing above the range of 19,650-19,700 and sustains these levels in coming sessions, whereas the crucial support remains in the range of 19,500-19,300 levels. This morning the GIFT Nifty is hinting at an open below the 19,600 mark amid weak cues from global markets. Wall Street extended its slide overnight with the Nasdaq falling over a percent ahead of the July US consumer price index data. Asian markets are largely mixed this morning. Lots of stocks in focus this morning including Zee, Suzlon, IRCTC and BSE. Hero Moto and LIC will report Q1 earnings today. Meanwhile, all eyes will be on MPC meet outcome. The RBI is likely to hold interest rates steady and keep stance unchanged but all eyes will be on inflation forecast amid soaring tomato prices. Catch Nandita Khemka in conversation with Latha Venkatesh, CNBC-TV18 and Osho Krishan, Sr Analyst-Technical & Derivative Research, Angel One.

first published: Aug 10, 2023 09:08 am