The BSE Sensex and the NSE Nifty have fallen 5% in the past five sessions amid fear of rate hike by central banks globally and the headwinds in terms of higher crude prices and rising inflation.
The Sensex and Nifty are set to start the week on a bearish note, following negative cues from global peers, amid continuing fears of aggressive rate hikes and economic slowdown.
The firm trading at SGX Nifty indicates a positive start for Sensex and Nifty on Wednesday. The Singapore Nifty futures were up 0.5% at 17,071 at 8:00 AM.
The RBI is widely expected to maintain the status quo on interest rates, while it may revise the inflation forecast as well as growth projections for FY23.
The Sensex and the Nifty are seen opening higher on Tuesday, following positive cues from Asian peers and firm trading in Nifty futures on the Singapore Exchange.