Indian shares mark time ahead of RBI policy

Investors will be keeping a close eye on the Reserve Bank of India's meeting on Wednesday, at which it is expected to cut rates.

india trader
Reuters

Indian shares were little changed on Tuesday, as investors preferred to stay on the sidelines ahead of the Reserve Bank of India's monetary policy decision on Wednesday.

At 0618 GMT, the S&P BSE Sensex rose 0.02 percent to 32,522 while the broader NSE Nifty advanced 0.07 percent to 10,084.

Investors will be keeping a close eye on the Reserve Bank of India's meeting on Wednesday, at which it is expected to cut rates.

Trent rose 4 percent after the retail chain operator reported a 65 percent jump in its June quarter net profit.

Tech Mahindra gained 5 percent after the software exporter reported a 6.5 percent rise in net profit for the quarter ended 30 June.

Other gainers included Dr. Reddy's, Maruti Suzuki, Wipro and Adani Ports, rising between 1.5 percent to 2 percent.

Among the laggards, Biocon fell 2 percent amidst news report that the U.S. drug regulator issued form 483 observations.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Meanwhile, Asian shares gained after positive economic data from around the globe boosted risk appetite.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 percent, led by gains in financials and energy shares.

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