INDIAN EQUITY MARKET OUTLOOK - 8 Feb 2017

Sensex, Nifty open flat; investors cautious ahead of RBI policy

Equity benchmarks started off Wednesday's trade on a cautious note ahead of outcome of two-day monetary policy committee meeting due later in the day.

The 30-share BSE Sensex was up 20.75 points at 28355.91 and the 50-share NSE Nifty gained 0.80 points at 8769.10.

Infosys, Wipro, BHEL, Hero Motocorp, TCS, ITC, Axis Bank, Hero Motocorp and UltraTech Cement were early losers while Tata Steel, Tata Motors, HUL, Sun Pharma, NTPC, Hindalco, Tech Mahindra and Cipla were gainers.

The Indian rupee has opened marginally higher at 67.38 per dollar today versus previous close of 67.41.

The currency will take cues from the monetary policy and the movement of the equity market, he feels.He expects the USD-INR pair to trade in a range of 67.30-67.60/dollar today.

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