Market close: Nifty 50, Sensex snap two-day losing run ahead of RBI MPC outcome; volatility index India VIX falls 6%

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Nifty 50 today: Key domestic equity indices the Nifty 50 and the Sensex snapped their two-day losing run on Thursday amid mixed global cues ahead of the monetary policy meeting outcome on Friday. The three-day Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) is underway. RBI Governor Shaktikanta Das will announce the outcome tomorrow.

Experts expect a status quo on interest rates and monetary policy stance. RBI's assessment of inflation and growth trajectory will be in focus. Nifty 50 today opened at 19,521.85 against the previous close of 19,436.10 and touched its intraday high and low of 19,576.95 and 19,487.30 respectively.

The Sensex today opened at 65,598.26 against the previous close of 65,226.04 and touched the intraday high and low of 65,753.20 and 65,443.34 respectively. Nifty 50 today closed at 19,545.75, up 110 points, or 0.56 per cent while the Sensex closed at 65,631.57, up 406 points, or 0.62 per cent. The BSE Midcap index slipped by 0.03 per cent while the BSE Smallcap index rose 0.59 per cent.

The overall market capitalisation of the firms listed on BSE rose to about ₹317.9 lakh crore from ₹316.7 lakh crore in the previous session, making investors richer by ₹1.2 lakh crore in a single day. The volatility index India VIX fell almost 6 per cent today to the level near 11. The volatility index is at a significantly low level.

Past data show, the India VIX generally sits in the 15-20 range. The India VIX is a measure of how much the Nifty 50 index is expected to change in the next 30 days. If the India VIX is high, it means there is a lot of uncertainty and fear in the market.