Sensex, Nifty sharply advance on back of Maha assembly polls results
Sensex and Nifty sharply advanced in the morning trade on Monday on the back of Maharashtra assembly election.
The Indian stock market indices have decreased marginally this morning, after two weeks of a steady rally.
As Indian stock market investors are waiting for fresh cues from US Federal Reserve’s monetary policy review meeting outcome to be announced later today.
At 9.39 am, the Sensex was down 67.11 points, or 0.11 percent, and the Nifty was down 18.10 points, or 0.100 percent, at 18,127.30.
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Indian markets had a strong start to the new month and yesterday’s session concluded in positive territory for the fourth straight day.
“Today, the markets are likely to get a cautious start amid lackluster global cues ahead of the US Fed policy outcome later in the day,” said Mohit Nigam, Head – PMS at Hem Securities.
Investors will be paying great attention to the Reserve Bank of India’s supplementary and out-of-turn monetary policy meeting on Thursday.
For the record, retail inflation in India increased to 7.41% in September and remained beyond the authorised range of 2–6% for the third consecutive quarter.
If the CPI-based inflation is outside the 2–6% range for three consecutive quarters, the flexible inflation targeting framework considers the RBI have failed in managing price increases.
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