The Indian share markets indices traded in the green on Wednesday morning ahead of the RBI’s monetary policy announcement.
At 10.30 am, the BSE Sensex stood 348 points higher at 49,549 while the NSE Nifty 50 index traded higher by 105 points at 14,788.
Most sectoral indices have opened positive this morning. The Nifty Metal index is up 0.5 percent while the Pharma index has opened with gains of 0.4 percent. Pharma and Metal stocks were also the outperformers in Tuesday's trading session. The Nifty Metal index has opened higher for the eighth straight day.
The Reserve bank of india is scheduled to make the announcement and the monetary policy committee (MPC) is expected to maintain the key lending rates due to inflationary pressure along with high bond yields during the first monetary policy review of FY22, experts said.
Economists are of the view that through the fiscal year 2022, the RBI may keep rates unchanged and may be hike rates towards the end of the ongoing fiscal year or the next. For the first half of FY22, the inflation forecast has been kept at 5.2 percent while it has been brought down to 4.4 percent in Q3 and 5.1 percent in the fourth quarter.