Indian stock markets opened on a cautious note on Wednesday as investors awaited the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting chaired by Governor Sanjay Malhotra.
The Nifty 50 opened at 24,620.55, up 9.45 points or 0.04 per cent, while the BSE Sensex started at 80,173.24, down 94.38 points or 0.12 per cent. Broader indices on the NSE were mostly higher, with Nifty 100 up 0.13 per cent, Nifty Smallcap 100 up 0.21 per cent, and Nifty Midcap 100 gaining 0.42 per cent.
Sectorally, Nifty Pharma, Nifty Auto and Nifty Media led the gains, while Nifty IT traded lower. Market experts said volatility remained high as investors adopted a wait-and-watch approach ahead of the RBI announcement.
On the currency front, the Indian Rupee weakened to 88.79 against the U.S. Dollar amid geopolitical concerns and subdued market inflows. Meanwhile, gold prices surged to record levels, supported by safe-haven demand amid uncertainties over a possible U.S. government shutdown and a weaker dollar.
Asian markets showed mixed trends, with Taiwan, Hong Kong and South Korea indices trading higher, while Japan’s Nikkei 225 fell over 1 per cent.
-ANI