Share Market LIVE: SGX Nifty in green ahead of opening; MPC may push policy rate back to pre-pandemic levels

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices enter the weekly futures & options expiry session on the back of six consecutive days of ending in the green. On Wednesday, S&P BSE Sensex jumped 214 points or 0.37% to settle at 58,350 while the NSE Nifty 50 index gained 42 points to end at 17,388. Although India VIX closed with losses on Wednesday, the gauge is still above 18 levels. Ahead of Thursday’s trade, SGX Nifty was sitting in positive territory, suggesting a continuation of the upward momentum. Global cues were also positive after Wall Street surged higher on Wednesday and Asian stock markets mirrored the up-move. 

The Reserve Bank of India (RBI) could push the policy rate to pre-pandemic levels tomorrow with most economists expecting the Monetary Policy Committee (MPC) to hike rates by 50 basis points once again. 13 of the 27 economists surveyed by Bloomberg said they expect a 50 basis point hike that would take the repo rate to 5.40%, a level last seen in August 2019. The MPC will end its three-day deliberations tomorrow and eyes will be on RBI Governor Shaktikanta Das for guidance on inflation and further rate hikes. 

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