RBI MPC to maintain status quo: Bloomberg poll
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Repo rate currently at 6.5%
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First MPC post appointment of three new external members
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External members include Ram Singh, Saugata Bhattacharya, and Nagesh Kumar.
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Some signs of a slowdown in economic growth visible
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CPI inflation at 3.65% in August, vs 3.54% in July.
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Inflation within the central bank's target of 4% aided by the base effect.
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Inflation expected at closer to 5% in September
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RBI expected to continue to focus on domestic fundamentals
Crude Oil Update: Oil Prices Continues To Gain
After delivering the biggest intraday drop in more than a year, crude oil future prices continued to recover in Asian trade. Concerns over China's economic condition weighed on the crude oil prices on Tuesday. Intraday, oil prices plunged 5.65% to $76.36 a barrel on Tuesday.
The brent crude was trading 0.69% higher at $77.71 a barrel as of 07:28 a.m.
Stock Market Live: Most Asia–Pacific Markets Rise; RBNZ Cuts Rate By 50 Basis Points
Most markets in Asia–Pacific rose in early trade on Wednesday tracking overnight gains on Wall Street.
The Reserve Bank of New Zealnd cut the benchmark rate by 50 basis points in line with market expectations.
The Nikkei 225 and S&P ASX 200 were trading 0.89% and 0.41% higher, respectively as of 07:16 a.m.
Asian Stocks Echo Wall Street Gains Ahead Of Fed Minutes
On Tuesday, the S&P 500 and Dow Jones Industrial Average ended 0.97% and 0.30% higher, respectively. The Nasdaq Composite ended 1.45% higher.
The GIFT Nifty was trading 0.14% or 35 points higher at 25,156.50 as of 06:30 a.m.
"The larger texture of the market is still in to the weak side. For the day traders now, 24,900/81,300 and 24,850/81,100 would be the key intraday supports zone. Above the same, the pullback formation is likely to continue. On the higher side, market could continue the pullback momentum till 25,150-25,200/82,000-82,300," said Shrikant Chouhan, head – equity research, Kotak Securities.
The Nifty 50 and Sensex snapped their six-session losing streak to end higher on Tuesday, led by heavyweights HDFC Bank Ltd., Infosys Ltd., and Reliance Industries Ltd.
The Nifty 50 closed 0.88%, or 217.40 points higher at 25,013.15, and the Sensex gained 0.72%, or 584.81 points, to end at 81,634.81.
Nifty, Sensex Snap Six-Day Losing Streak Ahead Of RBI MPC Outcome: Market Wrap. Read more on Markets by NDTV Profit.