India Vix falls ahead of RBI policy

Stock Market UncertaintyVolatility gauge India VIX fell over 1% to 14.7825 ahead of RBI monetary policy outcome later today. Weak Asian cues also dampened the domestic sentiment.

The central bank is expected to maintain status quo on account of various factors, including a likelihood of retail inflation nudging up due to higher prices of vegetables and protein items, rising crude oil prices, the risk of fiscal slippage, and the possibility of the US Fed upping interest rates.

At 11:49 AM, Nifty 50 and Sensex were down 0.5% each, with the metal and banking sector are the worst performers today.

The Nifty Metal was the biggest loser among sectoral indices, falling 1.5% as Hindustan Zinc, Hindalco Industries, Vedanta, Hindustan Copper, Tata Steel, Jindal Steel, NALCO, SAIL and MOIL rallied 1-3%.

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