Sensex, Nifty Close Lower as RBI Decision Awaited

Gold Silver Reports – The BSE Sensex and NSE Nifty closed marginally lower on Tuesday as traders are cautious ahead of the Reserve Bank of India’s policy decision on Wednesday. The Nifty PSU Bank rose 1.37% led by SBI, which was up 2.17%. On the losing side, the BSE Power fell 1.06%. SBI, Bharti Airtel and Reliance Industries were the top gainers, while Hero MotoCorp, Wipro and Tata Steel were among the major losers.

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Most of the analysts polled by Mint expect the central bank to keep interest rates on hold for a prolonged period starting with its policy meeting on concerns of rising inflation. All 15 economists surveyed expect the central bank’s monetary policy committee (MPC) to keep the key repo rate unchanged at 6% when it announces its decision on Wednesday. – Neal Bhai Reports