According to technical analysts, the Nifty could trade in the range between 7,400 and 7,700.
Markets closed the day in green on favourable domestic factors,
After two surprising, successive rate cuts in January and February 2015, RBI governor Raghuram Rajan decided not to reduce them further in his first policy announcement in the new financial year. Is he playing spoilsport for consumers of homes and cars?
Rate-sensitive sectors like banks, realty and auto witnessed heavy selling pressure ahead of the RBI Monetary policy which is scheduled on September 29.
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Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
Gains were led by index heavyweights with Reliance Industries contributing the most.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
Sectors such as Auto, Banks, Capital Goods, FMCG, Metal, Oil & Gas and Power are trading marginally lower.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
The RBI expects change, presumably commencing in the next Budget, but must hold its current view until this actually happens.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
Are we adopting an idea whose time has come and gone? My feeling is, yes, says ex-banker C Joseph Chacko in the fourth article of the series on inflation targeting.
Pranjul Bhandari, Chief India Economist, HSBC, speaks about a range of issues ranging from inflation, to how Goods and Services Tax and land acquisition bills can help India hit double digit growth, and her impressions about economic growth in the last one year after Narendra Modi took over as India's Prime Minister.
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