(Reuters) – India’s equity benchmarks are off to a muted start on Monday, in line with other Asian peers, as investors awaited this week’s U.S. Federal Reserve meeting, where policymakers are widely expected to resume the easing cycle.
Separately, India’s retail inflation accelerated to 2.07% in August, but stayed well within the central bank’s tolerance band, leaving room for another rate cut this year.
The Nifty 50 added 0.02% to 25,118.9 and the BSE Sensex was up 0.03% to 81,925.51 as of 09:15 a.m. IST.
Twelve of the 16 major sectors advanced at open, though the gains were marginal. The broader small-caps and mid-caps rose about 0.2% each.
Asian stocks got off to a quiet start ahead of an action-packed week that is seemingly certain to see the Fed cut interest rates, and perhaps leave the door wide open to a series of cuts. [MKTS/GLOB]
The Nifty 50 rose 1.5% last week, notching an eight-session winning streak on Friday, buoyed by rising bets for a Fed rate cut, prospects of progress in U.S.-India trade talks and the government’s tax cuts to boost consumption.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Eileen Soreng)
