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Mkts end flat RBI policy in focus
The stock markets have closed on flat with negative bias ahead of RBI policy review slated on Tuesday. Investors turned cautious as they expect that RBI may not touch rates. The bank stocks under pressure as Bank Nifty closed 1.3 per cent lower, while SBI slipped about 4 per cent.
Mumbai: The stock markets have closed on flat with negative bias ahead of RBI policy review slated on Tuesday. Investors turned cautious as they expect that RBI may not touch rates. The bank stocks under pressure as Bank Nifty closed 1.3 per cent lower, while SBI slipped about 4 per cent.
Sensex closed 46 points lower at 24,824 and Nifty down 8 points at 7,555. Meanwhile the broader markets outperformed over index shares with midcap and smallcap ended higher between 0.3 per cent and 0.6 per cent.
On the sectoral front, the bank shares fell over 3 per cent followed by energy sector down 0.54 per cent, on the other hand, infra stock reported gains followed by FMCG and metals.
The auto major Maruti fell at the close of trade session with nearly 4 per cent down, while Eicher's Royal Enfield ended up by 3 per cent and Ashok Leyland up 2 per cent.
Oil Marketing Cos closed mixed with BPCL, HPCL ending between 1.5 per cent and 2 per cent lower, while IOC, OIL ended up between 0.5 and 1 per cent.
From pharma pack, IPCA labs closed down about 5 per cent as it was warned by USFDA about its three plants, Glenmark up nearly 3 per cent as HSBC up the status of its share to 'Buy' from 'Hold'. On the other hand, Dr Reddy's Lab finished 2 per cent lower despite it obtained approval for its anti-biotic Zenavod drug.
The gainers: Adani Ports, up 3.67 per cent at Rs 220.50; Coal India, up 2.67 per cent at Rs 328.60; Bharti Airtel, up 2.35 per cent at Rs 296.50; Asian Paints, up 2.12 per cent at Rs 887.25; and Cipla, up 2.07 per cent at Rs 597.80.
The losers: ICICI Bank, down 5.63 per cent at Rs 217.15; State Bank of India (SBI), down 3.92 per cent at Rs 172.90; Maruti Suzuki, down 3.68 per cent at Rs 3,946.80; Axis Bank, down 2.17 per cent at Rs 399.30; and Hindustan Unilever, down 1.96 per cent at Rs 800.90.
