Taking Stock: Nifty snaps 7-day losing streak on potential monetary stimulus from central banks

Indian markets snapped its seven-day losing streak on March 3 tracking global markets after various central banks hinted policy initiatives to counter the economic slowdown in their respective countries.

The Reserve Bank of India (RBI) said it is "monitoring global and domestic developments closely and continuously." Soothing concerns, it promised to take appropriate action to ensure that financial markets run smoothly.