The S&P BSE Sensex closed 0.33% down at 62,626. The Nifty 50 index lost 0.31% to 18,642.75.
The Reserve Bank of India is widely expected to raise interest rates by 35 basis points on Wednesday, but the focus will be on the central bank’s outlook on growth and prices, especially as India’s inflation, though slowing, remains above the RBI’s target.
“Nifty remains in a consolidation movement with gradual weakness. The market is expected to witness an upside bounce from near the support of 18,550 levels in the next 1-2 sessions,” Nagaraj Shetti,Technical Research Analyst at HDFC Securities, said.
Here are 4 stock recommendations for Wednesday: