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Live: RBI interest rate decision to dictate market moves | Tata Consumer, Mankind & Lupin in focus

Indian equity market seems to be cautious ahead of RBI's monetary policy scheduled as the participants may be awaiting the commentary about the rate cut cycle and inflation and growth forecast. The Nifty50 made a healthy attempt on February 7 but failed to defend the 22,000 mark due to selling pressure in late morning deals and remained rangebound in the rest of the session. Hence, unless the index gives a strong closing above 21,970, the sustained uptrend towards a record high of 22,126 is unlikely in coming sessions, while the 21,750-21,700 is expected to be immediate support for the index, experts said. On January 7, the BSE Sensex was down 34 points at 72,152, while the Nifty 50 gained 1.1 points at 21,930.5. This morning global cues are sanguine with Wall Street clocking fresh record and GIFT Nifty hinting at a start above 22,000. Amng stocks in focus watch out for Tata Consumer, Power Grid, Mankind Pharma, Zomato & LIC. Catch Nandita Khemka in conversation with Sunil Subramaniam, MD and CEO, Sundaram Mutual and Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher. .

first published: Feb 8, 2024 08:37 am