Key Indian equity indices opened on a flat note on Wednesday as investors remained cautious ahead of the monetary policy review outcome of the Reserve Bank of India due later during the day.
Around 9.17 a.m., the wider Nifty50 of the National Stock Exchange (NSE) rose mere 4.05 points, or 0.04 per cent, to trade at 9,863.55 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,522.17 points, traded at 31,488.77 -- down 8.61 points, or 0.03 per cent.
The Sensex has so far touched a high of 31,541.54 points and a low of 31,476.20 points.
The government is banking on a rate cut to spur growth which fell to a three-year low of 5.7 per cent in the June quarter.
The fourth bi-monthly monetary policy statement for 2017-18, to be released today, is being keenly awaited by all stakeholders -- especially the industry which has been demanding for lower interest rates.
Experts and industry bodies too have made a strong case for lowering of the key interest rate in view of subdued inflation and the urgency to propel economic growth which appears to be reeling under the impact of demonetisation and GST implementation.
However, bankers are of the view that the RBI would maintain status quo as inflation has seen an increase.
On Tuesday, the benchmark indices surged to close on a higher note as positive global cues, coupled with healthy buying in automobile, consumer durables, and oil and gas stocks, lifted investors' sentiments.
The Nifty50 rose by 70.90 points, or 0.72 per cent, to close at 9,859.50 points, while the Sensex closed at 31,497.38 points -- up 213.66 points, or 0.68 per cent.
(With IANS inputs)
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