FX.co ★ Sensex, Nifty Struggle For Direction Ahead Of RBI Verdict

Indian equities displayed indecision on Friday, as investors awaited the Reserve Bank of India's imminent decision on interest rates.

The prevailing market consensus anticipates a 25 basis points reduction in the RBI's benchmark repurchase rate, bringing it to 6.25 percent. However, there is speculation among some analysts that the central bank may opt for a more aggressive 50 basis points cut.

Additionally, market participants are vigilant for any announcements regarding further liquidity enhancement measures by the RBI.

In early trading, the S&P BSE Sensex index inched up slightly to 78,085, while the broader NSE Nifty index remained largely unchanged at 23,608.

Within the sector movements, Mahindra & Mahindra experienced a modest increase of approximately 1 percent, whereas LIC saw a 1 percent decline as both prepared to disclose their earnings figures.

Britannia Industries posted a 0.6 percent gain after revealing a 4.6 percent increase in its third-quarter consolidated net profit. Conversely, ITC faced a 2 percent downturn following a reported 7.5 percent annual decline in quarterly profits.

Bharti Airtel surged 4.5 percent after announcing an impressive over five-fold rise in its third-quarter consolidated net profit. Hero MotoCorp also performed well, rising 0.7 percent on the back of a 12 percent increase in its third-quarter profits.

Meanwhile, Zomato saw a 1.2 percent rise after its board authorized a name change to 'Eternal'.