Indian Stock Market Gains as Investors Await RBI Policy Announcement

Mumbai (The Uttam Hindu): The Indian stock market opened the trading session on Wednesday with gains, with most indices in the green. At 9:23 AM, the Sensex was up 51 points (0.06%) at 80,319, while the Nifty rose 23 points (0.10%) to 24,635.

In the early session, large-cap, mid-cap, and small-cap stocks showed strength. The Nifty Midcap 100 index was up 153 points (0.27%) at 56,682, while the Nifty Smallcap 100 index saw a marginal gain of 3 points at 17,566.

Sector-wise, Auto, Financial Services, Pharma, FMCG, Realty, Energy, Private Banks, Infrastructure, Commodities, and PSUs traded in the green. On the other hand, IT, PSU Banks, and Services sectors were in the red.

Top gainers in the Sensex pack included Sun Pharma, Trent, Tech Mahindra, M&M, Tata Motors, Power Grid, ICICI Bank, Axis Bank, HCL Tech, Maruti Suzuki, Adani Ports, HUL, NTPC, and TCS. Top losers were Bajaj Finance, Zomato, Bajaj Finserv, Bharti Airtel, Asian Paints, Infosys, BEL, SBI, and UltraTech Cement.

RBI Governor Sanjay Malhotra is scheduled to announce the Monetary Policy Committee (MPC) decision at 10 AM. The three-day MPC meeting began on September 29. In the previous MPC meeting in August, interest rates were kept unchanged at 5.50%.

Asian markets are trading mixed, with Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta in green, while Tokyo is in the red. The US markets closed in the green on Tuesday.

Foreign Institutional Investors (FIIs) remained net sellers for the seventh consecutive session on September 30, selling ₹2,327 crore worth of equity, while Domestic Institutional Investors (DIIs) bought ₹5,761 crore worth of equity on the same day.