MARKETS LIVE: Indices trade higher, Nifty hold 10,700; RBI policy meet eyed

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SI Reporter  |  New Delhi  Last Updated at June 4, 2018 09:23 IST

MARKET COMMENT Amar Ambani, head of research, IIFL The Reserve Bank of India will commence its 3-day Monetary Policy Committee today to decide the key policy rate. The RBI will factor in rising inflation, high crude oil prices, prediction of a normal monsoon and a 7.7pc growth rate last quarter, before deciding on the rates. Though a status quo is expected, the market will focus on the commentary, which is likely to be hawkish.  Last week ended on a weak note with frontline indices ending in the red. The outlook is a positive start but expect caution ahead of the RBI policy. Delivery volumes have plummeted indicating it’s more of a trader’s market.  In May, foreign investors were net sellers to the tune of ₹30,000 crore- an 18-month-high. Asian shares are upbeat. US stocks ended high on Friday after reporting strong jobs data.   Nifty Sectoral trend BSE Sensex heatmap Market at open   At 9:15 AM, the S&P BSE Sensex was trading at 35,434, up 207 points while the broader Nifty50 was ruling at 10,754, up 58 points. Markets at pre-open Index Current Pt. Change % Change   S&P BSE SENSEX 35,424.69 +197.43 +0.56   S&P BSE SENSEX 50 11,238.50 +44.80 +0.40   S&P BSE SENSEX Next 50 32,723.49 +128.09 +0.39   S&P BSE 100 11,039.55 +43.89 +0.40   S&P BSE Bharat 22 Index 3,554.07 +18.49 +0.52 (Source: BSE) FPI outflow hits 18-month high at Rs 29,714 cr in May   Foreign investors pulled out a massive Rs 297.14 billion from the capital markets in May, making it the biggest outflow in 18 months, primarily due to a surge in global crude prices.   This comes

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