The market opened on a flat note ahead of the Reserve Bank's monetary policy review. While the street is expecting a 25 basis points (bps) repo rate hike, most market experts believe that this is already priced in and the policy may be a non-event today. The rupee opened flat at 61.59 per dollar against 61.52 Monday. The dollar clung onto modest overnight gains but stayed near a nine-month trough as investors bet the Federal Reserve will set the course for its massive stimulus programme to be maintained into early next year. Global equities were quiet ahead of the two day FOMC meet that begins today. US and European markets ended narrowly mixed yesterday, but Asian markets slipped in early trade today morning with the Nikkei down a percent. On BSE, Midcap and Small cap are trading marginally lower with declines of 0.37% and 0.42% respectively. On sectoral front, Consumer Durable is the outperformer to add 1.15% while on the negative side, Capital Goods is down by 1.81%.
Further the market breath stands negative with 638 shares are seen advancing against 960 declining shares.
Further the market breath stands negative with 638 shares are seen advancing against 960 declining shares.
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