Nifty's Muted Start Ahead of RBI MPC Meeting: Vaishali Parekh's Top Picks for Buying

Indian Stock Market Trades Range-Bound, Cautious Ahead of RBI MPC Meeting

The key benchmark indices of the Indian stock market continued to trade range-bound and finished marginally higher on Thursday. The Nifty 50 index edged higher and finished at 23,416, while the BSE Sensex ended at 74,360, and the Bank Nifty index added 121 points and closed at 54,300.

Despite muted movement in the benchmark indices, buying interest was visible across cash market stocks, particularly in the midcap and smallcap segments, helping support broader market sentiment. However, persistent FII selling continued to limit upside momentum and cap recovery attempts. The overall market sentiment remained cautious ahead of the RBI MPC meeting outcome, scheduled for June 5.

The Gift Nifty live chart is signalling a muted opening on Dalal Street, with the index opening lower at 23,494 and touching an intraday low of 23,441 within a few minutes of the Opening Bell.

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Market analysts believe that investors would wait for the final outcome of the RBI MPC meeting on Friday before making any significant moves. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, said that the Nifty 50 index has been sustaining the crucial support zone near the 23,200 zone and once again witnessed a good revival to end the session near the 23,400 zone.

Vaishali Parekh also noted that the Nifty 50 index has maintained the strong support zone near the 23,200 level, but has been subjected to the resistance hurdle near the 24,000 level, which needs to be breached decisively to trigger a fresh upward move in the coming days.

On the outlook for the Bank Nifty, Parekh said that the key benchmark index maintained the level above the 54,000 zone for most of the trading session ahead of the Monetary policy and closed in the green near the 54,300 zone, with bias maintained with a cautiously positive approach.

Vaishali Parekh's stock recommendations for today include:

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The Reserve Bank of India (RBI) will announce its monetary policy decision today, June 5, 2026, Friday. The RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) held its second bi-monthly policy meeting for FY27 from June 3 to June 5, and the repo rate decision is set to be announced today.