The RBI’s rate call will dictate the direction of the Sensex and the Nifty
Both the Nifty and the Sensex exhibited choppy trading in the crucial May derivatives expiry week. The GDP data released last week showed that it grew by 7.7 per cent in fourth quarter of financial year 2018, boosting market sentiment. Further, short-covering and selective buying took the indices higher on Thursday, but they retreated slightly thereafter. This was on the back of profit-taking and slip in India’s manufacturing PMI data from 51.6 in April to 51.2 in May.
