Nifty surpasses 17800, Sensex gains 300 pts; Bank Nifty gains 140 pts, Airtel shares fall 2%

Indian equity indices opened in green on Wednesday, ahead of the RBI MPC meet outcome. The NSE Nifty 50 rose 66.85 points or 0.38% to 17,788.35.

The BSE Sensex climbed 220.75 pts or 0.37% to 60,506.79. The top gainers on the Nifty are Adani Enterprises, Adani Ports, UltraTech Cement, Hindalco and SBI Life while the top losers are Bharti Airtel, Eicher Motors, Hero MotoCorp, Maruti and Bajaj Auto.

Investors will take cues from the RBI MPC meeting outcome which is scheduled to be announced later today. “Markets have been facing pressure on every uptick however buying in select index majors is capping the damage so far. Participants are closely eyeing the outcome of the RBI meet for cues however indications are pointing toward prevailing choppiness to continue until Nifty decisively breaks the range of 17,550-17,900 levels. We thus recommend restricting trades and maintaining positions on both sides,” said Ajit Mishra, VP – Technical Research, at Religare Broking.