- By Aditya Pratap Singh
- Wed, 05 Feb 2025 11:34 AM (IST)
- Source:JND
RBI MPC Meeting: The Reserve Bank of India's Monetary Policy Committee's regular review session began on Wednesday. The committee commenced the meeting with new Governor Sanjay Malhotra leading for the first time. Malhotra, the 26th RBI governor, was appointed in December 2024, replacing Shaktikanta Das, who had completed his three years tenure.
Many experts are of the view that the RBI may consider cutting the repo rate by 25 basis points to boost economic growth. This is in line with the government's renewed emphasis on demand as outlined in the Union Budget 2025. The repo rate has been at 6.5% since February 2023.
The meeting, which concluded on Friday, is the first of six bi-monthly sessions planned for the financial year. The MPC meets in April, June, August, October and December.
Stock Market Today
Domestic benchmark indices opened on a mixed note on Wednesday as tensions over US trade tariffs eased after a sharp rally in the previous session.
At 9:31 am, the Sensex opened marginally higher at 78,595.81, while the Nifty 50 index opened 30 points or 0.13% higher at 23,769.80. Sectoral performance on the NSE was mixed, with nine sectors trading higher and three declining. While the Nifty Oil & Gas index gained, the Nifty FMCG index was the biggest loser.
HDFC Bank, Infosys, Oil and Natural Gas Corporation, Tata Consultancy Services and Bharat Petroleum Corporation were the top gainers in the Nifty 50 stocks. Asian Paints, Larsen & Toubro, Titan and Nestle India were the weight gainers on the index.
The BSE Midcap and Smallcap indices outperformed the broader market and traded in the green in early trade.
