Sensex ends flat ahead of RBI policy meet
The BSE benchmark Sensex today ended flat as investors turned cautious and shifted their funds in banking and interest-sensitive stocks ahead of RBI policy meeting tomorrow.
The Sensex commenced higher at 20,172.45 and dipped to 20,062.79 before ending 0.18 point lower at 20,103.35. The index had gained 180 points in the previous session.
The wide-based National Stock Exchange index Nifty ended up 0.15 point to 6,074.80, after moving between 6088.40 and 6061.40.
Brokers said investors were cautious and picked up banking and interest-sensitive realty and auto stocks on expectations of an interest rate cut by the Reserve Bank of India in its policy review tomorrow.
They said the market was partly supported on a better trend in the Asian region and higher opening in Europe as investors awaited reports on the US durable goods orders and pending house sales.
In 30-BSE index components, 15 stocks gained while 15 declined.
The realty sector index gained the most by 1.84 per cent to 2,223.76 followed by auto index by 1.03 per cent to 11,185.31 as Maruti Suzuki rose 0.44 per cent to 1,607.25 on attractive quarter earnings and Tata Motors by 2.49 per cent to Rs 308.55.
Banking index rose by 0.68 per cent to 14,663.58 on expectation that RBI would probably cut the benchmark rate by 25 basis points to 7.75 per cent. On the other hand, a weak tend in oil and gas, consumer durable, capital goods, power and healthcare sectors kept the market under pressure to settle at almost flat.