Domestic stock and money markets are shut on Wednesday on account of Eid-Ul-Fitr. Commodity exchanges would be closed in the morning session, but would resume trade in the evening. The stock market in Singapore is also shut for the day for Hari Raya Puasa. Rest of the key global markets are trading as usual.
In overnight trade, stocks rebounded on Wall Street, as Fed Chair Jerome Powell said the central bank would act "as appropriate" to trade war risks, leaving the door open for a possible rate cut.
The RBI policy on June 6 is going to be a big booster for the stock market. we expect RBI to cut rate by 25 basis points, change its policy stance to ‘accommodative’ and address the liquidity deficit, may be even go for a surplus liquidity framework from ‘neutral’.
For Tuesday, the BSE barometer Sensex declined 184 points, or 0.46 per cent, to settle at 40,084. Its NSE counterpart Nifty ended at 12,022, down 67 points or 0.55 per cent.