Investors expect no change in rates but are keen on clues about inflation and growth. The Nifty gained 5.1% since the last rate pause, aided by ₹40.8 billion in foreign inflows from the RBI’s swap facility. With crude prices hovering around $80 and monsoon shortfall concerns, the RBI’s tone could tilt slightly hawkish. Traders are also watching how the new F&O closing mechanism impacts volatility. A steady hand from Governor Sanjay Malhotra could keep markets calm; for now.