Market Update: The Key benchmarks Sensex & Nifty opened lower on Wednesday ahead of the RBI’s monetary policy notice due after 2.30 pm. BSE Sensex is trading lower by 66.86 points to 32,746 levels, while the NSE Nifty50 fell 26.40 points to 10,091.85, in later morning hours.
Stocks Watch: Shares of Infosys Limited, Cipla Limited and Reliance (RIL) rose, while shares of State bank of India, Tata Steel and Adani Ports traded lower. Banking stocks fell ahead of RBI Policy. PNB, Yes Bank, SBI, Bank of Baroda, ICICI Bank and HDFC Bank fell by 1 to 6 percent ranges. Metal stocks such as Vedanta Ltd, Hindalco Industries Ltd, Jindal Steel & Power, National Aluminum Co Ltd and Hindustan Zinc and JSW Steel Ltd fell.
Stock in Focus: Reliance Power Ltd stock will be in Focus as Asian Development Bank (ADB) has approved debt financing and partial risk guarantees for about Rs 3754 crore, for the company’s LNG power plant being set up in Bangladesh.
IPO Watch: Future Supply Chain Solutions has raised Rs 195 crore from anchor investors ahead of its IPO that will kick off on Wednesday.
Rupee Watch: The Indian rupee also opened marginally lower against the U.S dollar. It was being traded at 64.44 per dollar, down by 0.10 percent from its Tuesday’s close of 64.38.