Reflecting worldwide market jitters, India’s benchmark indices launched into Friday’s session with minimal movement. At 9:18 AM, Sensex eased 78 points to 83,235.55, Nifty retreated 56 points to 25,586, as participants awaited RBI Governor Sanjay Malhotra’s 10 AM MPC policy disclosure.
Dawn trading revealed support in oil & gas, private banks, energy, and financial services, offsetting declines in IT, pharma, healthcare, media, auto, consumer durables, metals, and PSEs. While largecaps showed resilience, mid and smallcaps weakened notably—Nifty Midcap 100 lost 0.53% (315 points) to 59,201, Nifty Smallcap 100 plunged 1.14% (193 points) to 16,790.
Sensex movers included risers Bharti Airtel, Kotak Mahindra Bank, Bajaj Finserv, ICICI Bank, Power Grid, Axis Bank, L&T, Titan, and Adani Ports. Decliners TCS, Infosys, Tech Mahindra, HCL Tech, NTPC, BEL, Asian Paints, Eternal, Indigo, and Trent weighed on the index.
Consensus points to RBI holding repo at 5.25%, GDP/inflation estimates steady, with trade deal remarks in focus post-EU/US pacts. December’s 25 bps cut sets precedent. Global peers mostly down: Tokyo, Shanghai, Seoul, Jakarta negative; Bangkok up. US ended Thursday lower.
Comex gold dipped 1%, silver 5%, signaling risk aversion. As RBI articulates stance, markets could swing, influenced by inflation outlook, growth projections, and external risks. This pivotal update reinforces RBI’s role in anchoring investor confidence amid turbulent globals.