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Markets pause ahead of policy meet
On the sectoral front, consumer durables, IT and automobile indices gained, while healthcare, FMCG and metal stocks came under selling pressure.
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Mumbai: The stock markets closed on a flat note on Monday as investors exercise cautious ahead of RBI monetary policy. The experts anticipate that the central bank may hold rates for now.
This week will see more action in the stock markets as some vital macroeconomic numbers are to be released including PMI data. The sensex has gained 17 points at 26,146, however, Nifty lowered 7 points to close at 7,935. The broader markets, midcap and smallcap indices also closed flat.
On the sectoral front, consumer durables, IT and automobile indices gained, while healthcare, FMCG and metal stocks came under selling pressure.
Following RBI policy meet on Tuesday, the rate sensitive shares attracted the punters. While bank shares closed mixed with ICICI Bank and SBI gained up to 1.5 per cent, Axis Bank and HDFC Bank fell up to 2.5 per cent.
On the other hand, auto stocks ended with firm note as Bajaj Auto, Tata Motors and M&M rise up to 2.5 per cent. The other important gainer was L&T, which moved up by 1 per cent as its L&T Fin invested Rs 100 crore in two realty projects, according to industry sources.
The gainers: Infosys, up 2.08 per cent at Rs 1,088.45; ICICI Bank, up 1.67 per cent at Rs 274.10; Mahindra and Mahindra (M&M), up 1.41 per cent at Rs 1,367.25; Tata Motors, up 1.39 per cent at Rs 423.35; and Bajaj Auto, up 1.34 per cent at Rs 2,481.55.
The losers: Bharti Airtel, down 2.09 per cent at Rs 334.50; Vedanta, down 1.96 per cent at Rs 90.05; Coal India, down 1.65 per cent at Rs 330.70; Lupin, down 1.31 per cent at Rs 1,790.80; and Sun Pharma, down 1.26 per cent at Rs 730.65.
