Chennai, India (BBN) – The Sensex and Nifty opened the session on a positive note owing to firm global cues. Domestic sentiment was buoyed ahead of RBI monetary policy and Gujarat elections later this week.
At 9.15 a.m., the 30-share BSE index Sensex was up 135.08 points at 32,968.02 and the 50-share NSE index Nifty was up 33.35 points at 10,155.15, reports The Hindu Business Line.
The Reserve Bank of India’s monetary policy committee is likely to keep the policy repo rate on hold in the upcoming monetary policy review on account of various factors, including likelihood of retail inflation nudging up due to higher prices of vegetables and protein items, rising crude oil prices, risk of fiscal slippage, and possibility of the US Fed upping interest rates.
A curious catalyst has surfaced in the electoral chemistry of Gujarat.
The US dollar bounced to a two-week top on Monday as traders celebrated the passage of a Senate tax bill over the weekend, while stronger US stock futures pointed to a merry start for Asian shares.
The Dow Jones Industrial Average index fell 40.76 points or 0.17 per cent to 24,231, while the S&P500 lost 5.36 points or 0.20 per cent to 2,642. The Nasdaq Composite index also dropped 26.39 points or 0.38 per cent to 6,847.59 on developments with a probe into Russia’s alleged involvement in the US election as well as with progress on a tax Bill in Congress.