A morning walk down Dalal Street: All eyes on MPC meet outcome, market expects a rate cut
Episode 1276, Jun 06, 2019, 01:30 AM
Nifty moved in a 100-point range. But, the good news is that Sensex held on to its crucial support at 40,000 while the Nifty50 also closed above 12,000.
The S&P BSE IT index slipped over 1 percent on rise in rupee, the S&P BSE Healthcare index was down 1 percent and the S&P BSE Oil & Gas index closed 0.84 percent lower.
Analysts advise investors to remain cautious ahead of the outcome of the MPC meeting on June 6. The Indian market was shut on June 5 on account of Eid.
The onset of monsoon could be delayed further by a day to June 7, the India Meteorological Department said. Private weather forecaster Skymet also revised its forecast from June 4 to June 7. Monsoon is an important trigger that D-Street watches.