Indian Shares Drift Lower Ahead Of RBI Rate Decision
(RTTNews) - Indian shares opened lower on Wednesday after two days of gains amid diminished expectations for another Federal Reserve interest-rate hike in October.
The Reserve Bank of India will announce its bi-monthly monetary policy later today, with the central bank expected to hike its key repo rate by 25 basis points after maintaining a status-quo so far this calendar year.
The benchmark 30-share BSE Sensex fell 430 points, or 0.6 percent, to 72,638 while the NSE Nifty index was down 164 points, or 0.7 percent, at 22,611.
Titan Company shares slumped 4 percent. The company said its consumer business grew 25 percent in Q2FY27.
UltraTech Cement, BEL and Asian Paints all were down around 2 percent.
Godrej Consumer Products fell 1.2 percent after inaugurating the first phase of its new manufacturing facility in Indonesia.
Pace Digitek dropped 1 percent after unveiling expansion plans.
Asset Reconstruction Company soared 7.6 percent after declaring its Q1 standalone financial results.
Utkarsh Small Finance Bank rallied 2.6 percent after reporting a 55 percent jump in second-quarter disbursements.
Ola Electric Mobility advanced 1.2 percent ahead of a board meeting to consider a rights issue of shares to raise up to Rs 1,000 crore.
Australian Market Trims Early Losses In Mid-market
Asian Markets Trade Mostly Lower
Indian Shares Seen Lower As Investors Await RBI Policy Outcome
Higher Open Called For Thai Stock Market
Japanese Market Modestly Lower
Indonesia Stock Market May Extend Winning Streak
Australian Market Modestly Lower
