February 21, 2024

Stock market live updates: Benchmark indices Sensex and Nifty are eyeing slim opening gains on Thursday as the Street awaits the Reserve Bank of India’s (RBI) monetary policy outcome today. At 7:15 am, the Gift Nifty futures were up 35 points at 21,039. 

Most market participants expect that the RBI MPC will hold the key interest rate steady at 6.5 per cent. A poll by Reuters expect the rates to remain unchanged until at least July as India’s CPI remain closer to the upper price band of 6 per cent. 

Rate-sensitive stocks in real-estate, banks, financials and auto pockets will be in focus. Investors will also react to Q3 earnings of Tata Consumer, Lupin, Cummins and Apollo Tyres, among others. 

Global cues

Asian markets were higher except in Hong Kong, where Hang Seng was down 0.2 per cent. China CPI in January fell 0.8 per cent from a year ago, ahead of expectations of a 0.5 per cent decline. 

Nikkei, ASX 200 and Kospi rose 0.5-0.9 per cent. 

Overnight in the US, the S&P 500 rose 0.82 per cent, the Dow shed 0.4 per cent and the Nasdaq added 0.95 per cent.