After the Reserve Bank of India (RBI) kept the repo rate unchanged, the domestic equity market recovered from day’s low as there were no negative surprises in the monetary policy statement. Rate sensitive sectors like banks, auto and realty were trading with a positive bias.

Shares of renewable energy firm Suzlon jumped around 5% after the company launched a QIP to raise up to Rs 2,000 crore. Max Financial Services rose about 10% as Axis Bank agreed to buy an additional 6.23% stake in the insurance company.

Technically, Nifty may move up and down in a tight channel with the biggest intraday hurdles at 19,757 mark while intraday support is seen only at 19,411 mark.

Global markets
The US market was on tenterhooks last night ahead of the release of the inflation data. The Dow Jones ended 0.5% lower while Nasdaq fell more than a percent.

In Asian markets, Japan’s Nikkei was up 0.62% while Hong Kong’s Hang Seng was lower by 0.88%.

Currency Watch
The Indian rupee opened flat at 82.81 against the US dollar. The US dollar index was also trading flat at 102.5. The dollar has benefited from safe-haven demand in the wake of an ongoing run of poor Chinese economic data, while the narrative continues to build for a soft landing for the U.S. economy as price pressures mitigate.

Crude Impact
Crude oil prices were under pressure as Chinese data on Tuesday showed crude oil imports in July fell 18.8% from the previous month to their lowest daily rate since January.Brent crude fell 20 cents, or 0.2%, to $87.35 a barrel by 0006 GMT, after settling at its highest since Jan. 27 in the previous session.

FII/DII Tracker
FIIs, which have been selling Indian stocks in the last few days, bought equities worth over Rs 644 crore. DIIs, on the other hand, were net sellers to the tune of about Rs 598 crore.

(With inputs from agencies)