Indian Stock Market Steady as RBI MPC Decision Approaches

Mumbai, Dec 6 (NationPress) The Indian stock market commenced trading on a stable note on Friday, preceding the critical announcement from the RBI’s monetary policy committee (MPC). Traders are closely monitoring the impending decisions concerning repo and CRR rates.

As of approximately 9:23 am, the Sensex was positioned at 81,775.54, up by 9.68 points or 0.01 percent, while the Nifty stood at 24,712.35, reflecting an increase of 3.95 points or 0.02 percent.

The market exhibited a positive trend. On the National Stock Exchange (NSE), 1,500 stocks were recorded in the green, whereas 647 stocks were in the red.

Market analysts noted that the shift in sentiment has been influenced by FIIs transitioning to buyers in December, reversing their previous two-month selling strategy.

“Motivated by the influx of FII purchases, retail investors have also engaged in buying activities, leading to short-covering and notable intra-day volatility,” they remarked.

The trading community is keenly observing the RBI's policy response and its commentary regarding the growth and inflation outlook.

The Nifty Bank index was down by 63.45 points or 0.12 percent, standing at 53,540.10. The Nifty Midcap 100 index was trading at 58,486.70, gaining 45.15 points or 0.08 percent. Meanwhile, the Nifty Smallcap 100 index reached 19,356.90, up by 23.35 points or 0.12 percent.

Among the Sensex constituents, top gainers included ICICI Bank, ITC, M&M, Bharti Airtel, Sun Pharma, HCL Tech, JSW Steel, IndusInd Bank, and Asian Paints. Conversely, the primary losers were Tata Motors, Infosys, TCS, L&T, and SBI.

In the Asian markets, Seoul and Japan saw declines, while China, Hong Kong, Jakarta, and Bangkok experienced gains. The US stock markets concluded the previous trading day in the red.

On December 5, foreign institutional investors (FIIs) acquired equities worth Rs 8,539.91 crore, whereas domestic institutional investors sold equities valued at Rs 2,303.64 crore on the same day.