Equity benchmarks closed rangebound session on a positive note Monday following the rally in global peers ahead of central bank meetings in the US and Japan.
The 50-share NSE Nifty held psychological 8800 level throughout the session, up 28.55 points at 8808.40.
The 30-share BSE Sensex was up 35.47 points at 28634.50 while the broader markets outperformed benchmarks, up over half a percent.
Experts say investors remained on sidelines as they cautiously waited for the outcome of two-day Federal Reserve and Bank of Japan's meeting later in the week.
The US Federal Reserve is unlikely to raise interest rate anytime this year. It might look at raising rates by middle of next year, Herald Van Der Linde of HSBC says.
After the equity rally since March, a big move of volatility is expected in the next couple of months, he feels, saying the downside risk to India will be low as compared to other markets like Thailand and Indonesia.
The 50-share NSE Nifty held psychological 8800 level throughout the session, up 28.55 points at 8808.40.
The 30-share BSE Sensex was up 35.47 points at 28634.50 while the broader markets outperformed benchmarks, up over half a percent.
Experts say investors remained on sidelines as they cautiously waited for the outcome of two-day Federal Reserve and Bank of Japan's meeting later in the week.
The US Federal Reserve is unlikely to raise interest rate anytime this year. It might look at raising rates by middle of next year, Herald Van Der Linde of HSBC says.
After the equity rally since March, a big move of volatility is expected in the next couple of months, he feels, saying the downside risk to India will be low as compared to other markets like Thailand and Indonesia.
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