The Indian rupee is staying on the sidelines with all eyes glued to today's RBI policy outcome although weak global cues could add some pressure on the local unit. Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, as stocks wilted under pressure amid concerns about the outlook for the U.S. economy, despite US Fed officials reassuring markets that the world's largest economy is not headed for a recession. However, US benchmark treasury yields edging lower and dollar index below 103 could add some support to the counter. Yesterday, rupee came off recent lows but consolidated in a narrow range to settle the day lower by 4 paise at 83.96 against US dollar. The benchmark S&P/BSE Sensex jumped 874.94 points, or 1.11 percent, to 79,468.01 - snapping a three-day losing streak amid gains in other Asian and European markets. The broader NSE Nifty index settled 304.95 points, or 1.27 percent, higher at 24,297.50 ahead of the Reserve Bank of India's monetary policy decision due Thursday.

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