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Stock market live updates: The Sensex and Nifty indices are looking to open with cuts on Friday ahead of the RBI’s monetary policy decision.The central bank is expected to raise key repo rate by up to 50 basis points today as it struggles to tame record inflation. The bank has delivered a cumulative 140 bps rate increase so far this year over the last three occasions.
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At 07:50 am, the SGX Nifty quoted at 16,725, indicating a gap-down of nearly 100 points on the Nifty index.
The weakness has ensued as global markets decline. On Thursday, the S&P 500, Dow Jones and Nasdaq fell up to nearly 3 per cent on worries of a global economic downturn.
Asian markets were also lower this morning as Nikkei, Kospi and Taiwan declined up to 1.5 per cent.Back home, among stocks, rate sensitive stocks such as those of banks, financials, auto and realty pockets will be in focus.
That apart, Bajaj Electricals will also be on the radar as the company has bagged an order worth Rs 332.6 cr from Power Grid.Among others, Adani Enterprises will be added to the Nifty50 index with effect from today.
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