The central bank is seen leaving the policy rate unchanged given the shift in focus to bringing the retail inflation to 4 percent amid liquidity surplus in the banking system.
Indian equity markets on Thursday closed on a flat-to-negative note after the Reserve Bank of India (RBI) kept its interest rates unchanged in its first bi-monthly Monetary Policy Review of the 2017-18 fiscal, which failed to uplift investors' sentiments. The policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 percent.
At 9.20 am, Sensex was trading at 29,858.53 down by 51 points or 0.17%, while Nifty was trading at 9,222.25 below 15 points or 0.17%. "With no major surprises from RBI, markets stabilised, but will await the NPA resolution measures that are widely expected shortly".
In terms of the broader markets, the S&P BSE mid-cap index closed higher by 0.15 per cent, whereas the small-cap index slipped by 0.23 per cent. At 9.15am, the home currency was trading at 65.06, down 0.27% from its Wednesday's close of 64.88. FMCG and Telecom indices declined 0.8 per cent and 0.6 per cent respectively. Weak global cues also weighed.
Rajya Sabha passes GST Bill
He said the harsh provisions related to the recovery of tax should not be implemented during the transition phase of the GST. He said the GSTN has been designed in such a manner that it can not be audited by CAG and RTI too does not apply to it.
Among other Asian markets, Hong Kong's Hang Seng was up by 0.23 per cent, while Japan's Nikkei rose 0.27 per cent in early trade today.
Top gainers in the Sensex-30 pack: Tata Steel (up 1.7 per cent), Reliance Industries (up 1.7 per cent), Bajaj Auto (up 1.5 per cent), Power Grid (up 1.3 per cent) and Gail (up 1.1 per cent).
Globally, Asian and European stocks fell today as oil prices retreated from one-month highs and a private survey showed activity in China's service sector expanded at a slower pace for the third straight month in March.
The local currency on Wednesday hit a fresh 17-month high of 64.87 by gaining 16 paise against the USA dollar on heavy selling of the American currency by banks and exporters.