How is the market faring? (as of 10:36 am)
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Market recovers in trade, Sensex reclaims 35,000-mark
The market is recovering in trade with the BSE Sensex trading at 35,058 points and the NSE Nifty is trading at 10,639 points ahead of the RBI policy meet and the Cabinet meet outcome. Idea Cellular, Bajaj Finance, Bajaj Auto, Bharti Airtel and Sun Pharma are gaining in trade while the sugar stocks are trading mixed ahead of the cabinet meet outcome.
Market check: The market is trading flat with the BSE Sensex trading at 34,957 points and the NSE Nifty trading at 10,606 points. (as of 09:40 am)
The market on Wednesday opened flat with a positive bias amid the RBI policy concerns. The BSE Sensex opened at 34,932 points and the NSE Nifty stood at 10,602 points on the back of strong global cues.
Capital First gained more than 2% in the opening trade after the announcement that its merger deal with IDFC Bank got a 'no objection' from the RBI.
Zee Entertainment, Cipla, Idea Cellular, Asian Paints and Grasim were the top index losers while HCL Tech, Bajaj finance stocks, BPCL and Sun Pharma were the top gainers.
With the RBI policy meet outcome to be announced today, the experts expect the central bank to maintain status quo on repo rate but strongly predict the chances of a rate hike in this calendar year, suggested CNBC-TV18.
The Indian market had fallen on Tuesday for the third day in a row while global markets traded largely higher.
The Nifty had failed to hold on to 10,600 levels. The Index, which comprises fifty stocks, closed with a fall of 35 points at 10,593 and the Sensex slipped 109 points to 34,903.
First Published: IST