Indian shares muted ahead of RBI policy decision
Indian shares were muted on Friday, ahead of the Reserve Bank of India's (RBI) policy announcement, where a rate cut is widely anticipated.
The Nifty 50 fell 0.02% to 24,746.95, while the BSE Sensex lost 0.09% to 81,381.77 as of 9:25 a.m. IST.
Ten of the 13 major sectors advanced at the open.
The broader, more domestically-focussed smallcaps and midcaps gained about 0.3% each.
The RBI is expected to cut its key lending rate by 25 basis points for the third consecutive meeting. The policy decision is due at 10:00 a.m. IST.
While a 25 basis point rate cut is likely, the policy announcement will be closely watched for commentary on inflation, growth and the future rate path, said Satish Chandra Aluri, analyst at Lemonn Markets Desk.
Indian shares rise on optimism over trade negotiations, potential RBI rate cut
Other Asian markets were subdued, while Wall Street equities closed lower overnight as a high-profile dispute between U.S. President Donald Trump and billionaire Elon Musk weighed.
Among individual stocks, JSW Energy rose 2% after the company commissioned 281 MW of organic renewable energy capacity to increase its total installed capacity.
Ashoka Buildcon gained 3% after getting a letter of intent for traffic management projects in Maharashtra state.
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