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Markets open lower ahead of RBI monetary policy

The BSE Sensex was trading 104.83 points or 0.26 percent down at 39,978.71 in early trade wihle the NSE Nifty was trading lower by 43.65 points or 0.36 percent to 11,978.00.

Markets open lower ahead of RBI monetary policy

New Delhi: Stock markets opened lower on Thursday ahead of the RBI monetary policy, sheduled to be announced in the first half of the day.

The BSE Sensex was trading 104.83 points or 0.26 percent down at 39,978.71 in early trade wihle the NSE Nifty was trading lower by 43.65 points or 0.36 percent to 11,978.00.

The Reserve Bank of India is all set to announce its second bi-monthly monetary policy while this will be its first monetary policy after Modi 2.0 took charge last week with analysts believing that the Central Bank will go for an unconventional 0.35 percent cut in its key lending rate.

The RBI under its new Governor Shaktikanta Das has cut its key rates by a cumulative 0.50 percent since he took charge. The central bank has slashed the short-term lending rate (repo rate) by 25 basis points (0.25 percentage points) each in its last two policy reviews.