By Malvika Gurung
Investing.com -- Indian equity benchmark indices made a marginally higher to almost flat opening on Thursday despite a fall in Asian peer stocks ahead of the RBI Monetary Policy Committee’s (MPC) rate decision , set to release at 10 am today.
As per Investing.com’s forecast, RBI MPC is expected to leave the report rate unchanged at 6.5% for the second consecutive time in the June policy meet.
On the Nifty50 pack, NTPC (NS: NTPC ), JSW Steel (NS: JSTL ), Adani Enterprises (NS: ADEL ), Hero MotoCorp (NS: HROM ) and PowerGrid Corporation (NS: PGRD ) led the gains, while Kotak Bank, Bharat Petroleum (NS: BPCL ) and Eicher Motors (NS: EICH ) exerted pressure.
In a note provided to Investing.com, Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated that the important cue to watch would be the RBI commentary today since the rate decision will be a pause.
He added that if the RBI commentary marginally increases the FY24 GDP growth rate and decreases the FY24 inflation target, that would be a shot in the arm for the bulls enabling them to take Nifty to new records.
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