🌅 GOOD MORNING!
🏦 ALL EYES ON RBI MPC
The Reserve Bank of India's Monetary Policy Committee (MPC) will announce its Repo Rate decision today, October 7. Analysts and economists are expecting a possible rate hike amid inflationary conditions. The RBI last raised the Repo Rate in February 2023. In its previous meeting, the RBI kept the Repo Rate unchanged at 5.25%.
🇮🇳 GIFT NIFTY CHECK
GIFT Nifty was trading 0.06% lower, indicating a largely unchanged opening for the Indian stock market on Wednesday.
🌏 ASIAN MARKETS CHECK
Asian markets opened mixed on Wednesday. Japan's Nikkei 225 was flat, while the Topix gained 0.14%. South Korea's Kospi rose 0.28%, while the Kosdaq declined 1.21%. Australia's S&P/ASX 200 fell 0.13%. Mainland China markets remained closed for a holiday.
🛢 COMMODITY CHECK
Brent crude rose 1.06% to $101.65 per barrel, while WTI gained 1.05% to $90.41 per barrel.
🟡 GOLD CHECK
24-carat gold was trading around ₹1.50 lakh per 10 grams, while 22-carat gold was around ₹1.27 lakh per 10 grams across major Indian cities.
On MCX, Gold was at ₹1,50,130 per 10 grams, up ₹3,590 or 2.44% from the previous close of ₹1,46,540.
⚪️ SILVER CHECK
Silver was trading around ₹2.28 lakh per kg according to AIB reference rates.
On MCX, Silver was at ₹2,27,365 per kg, up ₹1,125 or 0.49% from the previous close of ₹2,26,240.
🇺🇸 US STOCK MARKET RECAP 📈
US stocks ended higher on Tuesday, with the S&P 500 and Nasdaq Composite reaching fresh intraday records.
📊 S&P 500: +0.58% at 7,818.93
📈 Nasdaq Composite: +0.45% at 27,599.89
🔵 Dow Jones: +0.49% at 51,521.28
🇮🇳 INDIA STOCK MARKET RECAP 📈
Indian benchmark indices Sensex and Nifty 50 gained for the second consecutive session, with gains led by Pharma, FMCG and Oil & Gas stocks amid the weekly derivatives expiry.
📈 Sensex: +685.34 points | +0.95% at 73,067.81
📊 Nifty 50: +220 points | +0.98% at 22,776.10
