stock market updateThe NSE Nifty ended Tuesday’s session on a positive note but failed to hold 8150 level due to late sell-off in private banking & financials and auto stocks. Investors remained cautious ahead of the outcome of monetary policy committee meeting tomorrow.
The 30-share BSE Sensex was up 43.66 points at 26392.76, and the 50-share NSE Nifty gained 14.40 points at 8143.15 after hitting an intraday high of Rs 8178.70 while the broader markets outperformed.
The recent recovery in the market after falling below 8000 level indicated that a 25 basis points cut in repo rate is largely priced in. Now all eyes are on commentary of the Reserve Bank of India, analysts say, adding the upside may continue if RBI cuts repo rate by 50 basis points on December 7.