Indian shares were flat to slightly higher on Friday as investors await the Reserve Bank of India’s monetary policy decision, to be announced at 10 AM.
Markets expect the central bank to maintain the status quo on interest rates and continue with its accommodative stance in a bid to support credit offtake and anchor bond yields.
The benchmark S&P BSE Sensex edged up 65 points, or 0.1 percent, to 52,297 in early trade, while the broader NSE Nifty index was up 15 points at 15,705.
Punjab National Bank dropped 0.7 percent while Bank of India advanced 1.6 percent ahead of their earnings results.
IDBI Bank climbed 2.2 percent after it secured a $239 million judgment in the commercial division of the High Court of London against a Cypriot subsidiary of India-based Essar Shipping Group.
NRB Bearings jumped 3.2 percent after its Q4 net profit surged eight-fold.
HFCL shares rose over 1 percent. The company has decided to participate in the Rs 12,195-crore telecom PLI scheme, for which registration begins today.
Arvind Fashions fell about 1 percent after narrowing its fourth-quarter net loss.
ABB gave up 1.1 percent. The engineering major has committed to electrifying its vehicle fleet by 2030.
ABB Power Products added 1.5 percent after announcing it has resumed operations at its manufacturing facility in Bengaluru.
Sensex, Nifty Hold Steady Ahead Of RBI Policy Outcome
2021-06-04 04:23:44
