The Indian stock market opened on Wednesday (October 1) amidst mixed signals from Asian markets, but soon got a flat business. Investors’ attention is fully on the results of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI), which is to be announced at 10 am today.
Market’s initial move
The index opened in all the sectors on the basis of initial purchases. However, investors looked cautious before the RBI decision.
BSE Sensex: It opened at 80,173 points and climbed up a high of 80,410 as soon as it opened. However, at 9:20 am it was trading at 80,255.01 with a slight decline of 12.61 points or 0.02%.
Nifty-50 (Nifty-50): It opened at about 24,620.55 points. At 9:22 am, it was trading at 24,629 with a slight gain of 18.40 points or 0.07%.
Everyone’s eyes on RBI MPC meat
Reserve Bank Governor Sanjay Malhotra will issue a decision of October MPC meeting at 10 am today, after which there will be a press conference at 12 noon.
Economists estimate: Most economists hope that RBI will maintain the status quo, that is, there will be no change in interest rates. However, in a survey of business standard, some economists have also predicted an additional cut of 25 basis points (BPS).
Expert’s opinion: IDFC First Bank Chief Economist Gaura Sen Gupta believes that given the strong development in Q1Fy26, RBI will first assess the impact of tax and GST cut, only after which he will take any further steps.
Global markets
Despite an edge in Wall Street, the Asian markets started mixed.
Asian Markets: Japan’s Nikkei opened with 1.01% and South Korea’s Kospi 0.95%. The Chinese markets were closed due to National Day and Mid-Itum Festival.
Wall Street: The American markets closed with an edge after an ups and downs on Tuesday. Investors were cautious about the possible government shutdown. Dow Jones gained 0.18%, S&P 500 0.41% and Nasdaq 0.31%.
Today’s IPO activities
There are also many IPO listing and subscription shutdown activities in the market today.
Today, Mainboard: Jain Resource Recycling, EPAC Prefab Technologies and BMW Ventures will be listed on stock exchange.
Subscription shut down today: Mainboard IPO of Fabtech Technologies and Glotis and Vijayapid Seityal, Om Metalogic, Sodhani Capital, Suba Hotels and Dhillon Freight Career subscriptions will be closed today.