Sensex, Nifty Slip After Flat Opening As Global Cues Weigh, RBI Policy Fails To Cheer

Indian benchmark indices opened flat ahead of key global events and after the Reserve Bank of India’s monetary policy review yesterday. BSE Sensex opened 45.63 points or 0.15% higher at 31,316.91 points, while NSE Nifty, the broader gauge, opened 18.50 points or 0.19% higher at 9,682.40 points. At 9:30 am, BSE Sensex was trading 39.18 points or 0.13% higher at 31,310.46 points while the NSE Nifty was up 10.50 points or 0.11% at 9,674.40 points.
The RBI kept the repo rate unchanged at 6.25 percent and cut SLR by 50 basis points to 20 percent. The monetary policy committee also cut its forecast for headline inflation to between 2.0 and 3.5 percent in the first half of the current fiscal year and between 3.5 and 4.5 percent in the second half.
On the progression of Monsoon, Indian Meteorological Department said that the South-West monsoon is expected to hit Maharashtra in a day or two. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774