Stock Market Updates: Sensex Down 100 Points, Nifty Above 24,650; RBI MPC Decision In Focus

The Indian stock market opened flat on Wednesday ahead of the RBI monetary policy announcement. The Sensex opened 94.38 points, or 0.12%, lower at 80,173.24, while the Nifty 50 opened at 24,620.55, up 9.45 points, or 0.04%.

Most economists expect the RBI to hold rates steady, though some anticipate a rate cut. A poll revealed that while the majority forecast a status quo, a few—including the State Bank of India (SBI)—project an additional 25-basis-point (bps) reduction in the repo rate.

Global Cues Asian markets opened on a mixed note following overnight gains on Wall Street. Japan’s Nikkei slipped 1.01 per cent, while South Korea’s Kospi was down 0.95 per cent. Chinese markets remained closed for the National Day and Mid-Autumn Festival holidays.

On Wall Street, all three major indices ended Tuesday’s volatile session higher despite lingering concerns over a potential US government shutdown, which could delay key economic data releases and complicate the Federal Reserve’s rate policy outlook.