Stock market closed flat: All eyes on RBI repo rate decision, strong recovery from lower levels:

Read, Digital Desk : Benchmark equity indices Sensex and Nifty saw a sharp recovery from their intraday lows on Thursday. This was assisted by value buying and such reports. As a result, Indian stock markets closed flat on Thursday, June 4. The 30-share Sensex closed at 74,360.01, up 13.84 points or 0.02 percent, and Nifty jumped 10.95 points to close at 23,416.55. Today, 2257 shares gained, 932 declined, and 172 remained unchanged.

In fact, sentiment saw a boost after a report stated that the government is looking at abolishing the tax on foreign portfolio investment in government bonds. An ordinance may be promulgated to this effect. This was one of the major drivers of recovery.

Now, stock markets will be hinging on the RBI’s repo rate decision. A decision would be taken on this on June 5th, tomorrow. A three day meeting of the monetary policy committee is on and it is the decision which would drive the stock markets tomorrow.