Key indices traded in narrow range with modest gains in mid-morning trade ahead of RBI's monetary policy outcome. The Nifty held above 11,350 level. At 11:21 IST, the barometer index, the S&P BSE Sensex, was up 225.9 points or 0.59% at 38,332.37. The Nifty 50 index was up 53 points or 0.47% at 11,367.
The outcome of the Reserve Bank of India's (RBI) fourth bi-monthly monetary policy review meeting will be unveiled at 11:45 IST today, 4 October 2019.
On the macro front, the IHS Markit India Services Business Activity Index contracted for the first time in three months. The headline figure fell from 52.4 in August to 48.7 in September, its lowest mark since February 2018.
Broader markets edged higher. The S&P BSE Mid-Cap index was up 0.3%. The S&P BSE Small-Cap index was up 0.38%.
The market breadth turned negative. On the BSE, 1156 shares rose and 1289 shares fell. A total of 170 shares were unchanged. In Nifty 50 index, 30 stocks advanced and 20 stocks declined.
Maruti Suzuki India was up 1.02% after the company announced that it has sold over 2 lakh BS VI compliant vehicles. The complete range of Maruti Suzuki BS VI compliant petrol models includes Alto 800, Baleno, WagonR, Swift, Dzire, Ertiga and the recently launched XL6 and S-Presso.
National Fertilizers surged 3.95% after the company said its fertilizer sales jumped 25% to 27 lakh MT in April-September 2019 over April-September 2018.
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