On Thursday, the equity markets ended marginally down as investors booked profit post six consecutive positive trading sessions and ahead of the RBI monetary policy outcome on Friday.

BSE Smallcap index outperformed broader markets recording gains of 0.25 per cent to end the session at 27,541.52.

Indices closed mixed in what can be said as one of the most volatile days in recent times as Nifty lost 6 points at the end of the day. Sensex slipped 50 points whereas Nifty Midcap rose 0.60 per cent.

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The company recently posted robust Q1FY23 results. 

On August 5, Monetary Policy Committee is expected to make its conclusion public. Market sentiment is reportedly split between a 35 bps hike and a 50 bps hike. 

In today’s session, the company witnessed a 20 per cent surge in the share price, post which, the company topped the list of gainers from Group A on BSE.  

In context to market expectations from Friday’s RBI MPC meet, Sumit Chanda, Founder & CEO of JARVIS Invest says, “While there have been some indications of the inflation moderating, with the Brent being still above the $100 mark and a falling rupee, we can expect RBI to hike the repo rate by about 50 bps.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 122.12 points or 0.2 per cent.

Interestingly, the company also managed to turn its year-ago quarter’s net loss of Rs 29 crore into a profit of Rs 15 crore for Q1 of FY2023.