Domestic markets are expected to open mildly positive ahead of the RBI policy meeting at 10 am. Gift Nifty at 22,054 against Nifty futures close of 22,003. Though global stocks are shining, analysts expect the market to open flat ahead of the RBI meeting, which, according to many, will reveal a status-quo stance on rates.

The focus will be on RBI’s liquidity measures, as the central bank is watching this carefully and will inject liquidity as required. Analysts expect the monetary policy stance to remain at “withdrawal of accommodation” for now.

Following the record closing at the US stocks, Asian stocks are sharply higher, led by Chinese markets.

Analysts said besides RBI rate meetings, the focus will be on companies that come out with results.

LIC results in focus

Some of the high-profile companies that came out with results included Aarti Industries, Apollo Hospitals Enterprise, Aster DM Healthcare, Astrazeneca Pharma India, Biocon, Balrampur Chini Mills, BEML, Concord Biotech, ESAF Small Finance Bank, Escorts Kubota, Hikal, Grasim Industries, Honeywell Automation, India Shelter Finance Corporation, ITD Cementation, JK Lakshmi Cement, Life Insurance Corporation of India, NCC, Page Industries, Patanjali Foods, Power Finance Corporation, Rail Vikas Nigam, SKF India, Thermax, Torrent Power, Zomato and Zydus Wellness.

“Investors would continue to take cues from the earning season. Insurance giant LIC will announce results on Thursday where new business premium growth is expected to remain healthy,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

According to Ruchit Jain, Lead Research,, Around 63 per cent of FPI positions are still on the short side.

“The reaction post the RBI policy will be important to watch as a breakout on either side of the above mentioned range will signal the next directional move. Traders are advised to stay cautious for now and trade in the direction of the breakout,” he said.