The market has opened lower as investors seem to be cautious ahead of the RBI monetary policy review to be announced today at 11am. Reserve Bank Governor Raghuram Rajan will be announcing his first credit policy. Most market analysts are expecting the central bank to scale back the liquidity tightening measures announced in July. Meanwhile, the Indian rupee opened with a marginal loss of 22 paise at 62.05 per dollar ahead of RBI policy against 61.78 on Thursrday. These led the Sensex to trade near the level of 20617.30 i.e. down by 29.34 points & the Nifty to trade near the level of 6104.55 i.e. down by 11 points. The Midcap index and small cap index are both trading in green with the gain of thirteen basis points of a percentage point and quarter of a percentage point respectively. On the sectoral front, the indices are trading mixed. The Power Index is trading as the biggest gainer with the gain of one and one-tens of a percentage point. On the other hand, the Metal Index is the biggest loser with the loss of nine-tens of a percentage point. This is followed by the Capital Goods Index which is trading with the loss of slightly more than eight-tens of a percentage point.
Further, the market breadth is neutral as one stock was seen advancing against each declining stock.
Further, the market breadth is neutral as one stock was seen advancing against each declining stock.
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