The benchmark equity indices ended Thursday’s trading session in the negative territory. The NSE Nifty 50 dropped 36.55 points or 0.17% to settle at 20,901.15, while the BSE Sensex slips 132.04 points or 0.19% to 69,521.69. Bank Nifty index ended flat slight up 6.85 points or 0.01% to settle at 46,841.40.
The broader indices ended in mixed, with fall led by Largecap and smallcap stocks. FMCG and Metal stocks outperformed among the other sectoral indices while Consumer Durables, and Media stocks shed.
The Indian Volatility Index (India VIX) closed down by 7.79 %.
“The market took a breather, the investors are in a wait-and-watch mode ahead of the monetary policy announcement. A better-than-estimated Q2 GDP growth, ease in global oil prices and drop in global bond yield will be the silver lining for the MPC,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that, however the expectation of a rise in domestic November inflation, drop in Rabi cultivation and increase in foodgrain prices will influence RBI to adopt a cautious approach in the short-term.
