Sensex, Nifty may stay positive;M&M, Lupin likely to be in focus
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MSCI’s broadest index of Asia-Pacific shares excluding Japan. Japan’s Nikkei .N225 fell 0.6 percent on the yen’s gains.
Wall Street eked out gains on Tuesday following a strong session for European stock markets. Additionally, the Bank of England’s reverse bond auction failed to meet its target on Tuesday, highlighting the scarcity of investors willing to sell from a quickly dwindling pool of long-term bonds with positive yields.
Back home, market consolidated yesterday. The 30-share BSE Sensex was down 97.41 points at 28,085.16 and the 50-share NSE Nifty fell 33.10 points to 8,678.25 while the broader markets also traded in line, falling 0.4 percent on weak breadth.
The much-awaited monetary policy was a non-event today as the governor Raghuram Rajan left repo rate, at which banks borrow money from the Reserve Bank of India, unchanged at 6.5 percent and cash reserve ratio at 4 percent.