Indices off to a tepid start, Nifty tests 10,750

Friday,   14-Dec-2018   09:45 AM (IST)

Benchmark indices opened on a tepid note with Nifty50 hovering around 10,750 levels ahead of RBI board meeting. At 9:40 AM, the S&P BSE Sensex was trading at 35,951, up 21 points, while the broader Nifty50 was ruling at 10,798, up 7 points. Shares of Indian Oil Corp (IOC) rose as much as 3.5 per cent to Rs 142.20 on NSE after the company said its board had approved the buyback of 3.06 per cent of equity shares for Rs 44.35 billion. The board of country’s largest oil firm approved the buyback of up to 297.6 million equity shares, or 3.06 per cent, at Rs 149 per share, it said in a regulatory filing. In broader market, S&P BSE Midcap index is trading 0.13 per cent or 19 points higher at 15,163 levels, while S&P BSE SmallCap is ruling 0.04 per cent or 6 points lower at 14,492 levels.  The central board of the RBI under new Governor Shaktikanta Das will meet the directors, who are likely to push for a greater say in the decision making of the central bank. The meeting will review the progress with respect to some of the decisions taken in the last meet on November 19.