Markets await RBI rate decision; GIFT Nifty flat
The Reserve Bank of India's monetary policy committee will announce its repo rate decision on Wednesday, with many experts anticipating a hike amid inflationary conditions. A hike would be the first since February 2023; rates were held at 5.25% last meeting. GIFT Nifty traded 0.06% lower, pointing to a muted open, while Asian markets were mixed. Brent crude rose 1.06% to $101.65 a barrel. Sensex closed 685.34 points higher at 73,067.81 and Nifty at 22,776.10.