Quiet start for markets ahead of RBI policy outcome; Nifty holds 9,650

Benchmark indices opened marginally higher on Wednesday as investors expected a less hawkish tone from the RBI in its interest rate decision later in the day. According to analysts, the central bank will leave interest rates unchanged as inflation is running well below forecasts, and the economy has slowed more than expected. Focus was also on Britain's general election, which kept the global markets on toes as it maps its exit from the European Union. British Prime Minister Theresa May looks on course to increase her parliamentary majority in Thursday's poll. While the European Central Bank's policy meeting and former FBI Director James Comey's testimony before a Senate panel, also kept the gains capped. Commodity Trading Tips

 
At 9:17 am, the S&P BSE Sensex was trading at 31,252, up 62 points, while the broader Nifty50 was ruling at 9,657, up 20 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained  0.3% each. "The indecisiveness near 9,700 has not caused any sharp loss in confidence so far, and the slippages so far have been held above last week’s peaks. While this suggests that bullish intent is still dominant, volatility could still dominate. If Nifty remians unsettled at 9,640, then 9,530/9,500 levels might come back in the reckoning," said Geojit Financial Services in a note. Nifty Trading Tips