Indian stocks greeted Friday with a flat start, as global downturns clashed with domestic eagerness for RBI’s policy cues. Sensex opened 78 points lower at 83,235.55 by 9:18 AM, Nifty similarly off 56 points at 25,586. The spotlight firmly rests on the Monetary Policy Committee (MPC) decisions, due at 10 AM from Governor Sanjay Malhotra, amid bets on status quo.
Initial buying lifted oil & gas, private banks, energy, and financials, but IT, pharma, healthcare, media, autos, durables, metals, and PSEs lagged. Largecaps held somewhat steady, yet midcaps and smallcaps buckled: Nifty Midcap 100 down 315 points (0.53%) to 59,201, Nifty Smallcap 100 falling 193 points (1.14%) to 16,790.
Among Sensex constituents, Bharti Airtel led gains alongside Kotak Mahindra Bank, Bajaj Finserv, ICICI Bank, Power Grid, Axis Bank, L&T, Titan Company, and Adani Ports. Drags came from TCS, Infosys, Tech Mahindra, HCL Technologies, NTPC, BEL, Asian Paints, Eternal, InterGlobe Aviation (Indigo), and Trent, hit by sector rotations.
Analysts predict repo rate unchanged at 5.25%, GDP and CPI forecasts intact. Key will be RBI’s take on EU and US trade developments. This caps a series after December’s 0.25% rate reduction. Overseas, most Asian markets bled—Tokyo, Shanghai, Seoul, Jakarta red—save Bangkok. US markets closed down Thursday.
Gold and silver faltered globally, Comex gold off 1%, silver 5%. With MPC minutes offering policy roadmap, traders anticipate reactions across asset classes. This session highlights India’s market resilience, navigating global headwinds while prioritizing domestic growth signals.