Benchmark indices pared gains to turn flat after Sensex and Nifty hit fresh record high ahead of the RBI meet outcome due later in the day. Markets expect the central bank to cut interest rates atleast by 25 bps to 6%, a more than 6-1/2 year low after inflation slumped to a more than five-year low of 1.54%. The Street will be watching cautiously whether RBI will signal readiness to ease more.
Asian peers, on the other hand, were trading steady on Wednesday following firm overnight trade in the Wall Street. The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark on stellar corporate earnings.