Stock markets: Sensex and Nifty strengthened with three consecutive declines
MUMBAI: After the country's general budget has been introduced, the market is witnessing firmness in the early trade on Wednesday after the declining market share. The Sensex and Nifty gained 0.94 points in early trade due to buying in banking, auto and metal stocks. The key indices were seen trading at 10,444.95 with a gain of 46.70 points at the end of the day, at 34,324.55, with a gain of 128.61 points at 10.10 am and Nifty at the same time.
On the Bombay Stock Exchange (BSE) 30-share sensitive index Sensex rose 367.36 points, to 34563.30, while the National Stock Exchange (NSE) 50-share sensitive index Nifty strengthened by 108.95 points to 10,607.20.
Let us know that the meeting is scheduled on 6 and 7 February of the six-member Monetary Policy Committee (MPC), headed by Reserve Bank Governor Urjit Patel. The country's central bank may present the review of monetary policy review of Reserve Bank of India today. Whether the bank will make any changes in interest rates this time, analysts have different opinions on it. Most analysts believe that considering the rise in inflation, the price of oil and the government's plan to increase the support price of the crop, the standard policy rate can be avoided. If the bank declares interest rate reduction, then the rates of loan will be lower and in this case, you will be deducted from your EMI on the home loan and other types of loans.