The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,715 level, a premium of nearly 25 points from the Nifty futures’ previous close.

It was widely anticipated that the RBI will deliver a rate cut and, hence, the market has not reacted much to the rate cut, said an analyst.

Sensex dropped 87 points to 77,970.84, while Nifty slipped to 23,570.75 as investors remain cautious ahead of the RBI MPC meeting.

RBI trimmed its GDP target for Q1 of FY26 to 6.7% from earlier 6.9%, and the target was lowered to 7% for Q2 compared to 7.3%. For Q3 and Q4, RBI expects GDP growth at 6.5% each for FY26.

The Nifty 50 has dropped 4.4 per cent since the last policy meeting in December, impacted by weak corporate earnings and a slowing economy.

Indian stock market opens with gains as Nifty 50 holds above 23,700 and Sensex rises 190 points. IT stocks see a positive trend, while Swiggy shares drop 8 per cent.

In his first monetary policy review, RBI Governor Sanjay Malhotra is widely expected to reduce rates to spur economic growth. As a monetary policy tool, the RBI adjusts the repo rate to influence liquidity in the economy.

The Indian stock market closed in negative territory on Tuesday, with the Sensex declining by 213.12 points to settle at 78,058.16, while the Nifty slipped 92.95 points to end at 23,603.35. Market sentiment remained cautious as investors awaited the Reserve Bank of India's (RBI) policy decision,

The Indian benchmark indices Sensex and Nifty closed lower on Thursday as investors remained cautious ahead of key corporate earnings reports and the Reserve Bank of India's important rate decision on Friday.