Indian equity benchmarks stayed rangebound after shooting up quite sharply since last week ahead of major event – RBI mid-quarter policy review on June 18. The market has been hoping for at least 50 basis points cut in repo rate or cash reserve ratio after looking at sluggish economic growth since last few months.
The market is closely watching inflation data that will be announced today. CNBC-TV18 poll sees inflation around 7.4% as against 7.23% for April.
The 30-share BSE Sensex fell 21.68 points to 16,858.83 and the 50-share NSE Nifty declined 10 points to 5,111.45.
Epic Update : Sensex
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