Stock Market Close Flat Ahead Of RBI Policy; Banking And Financial Stocks Gain

The Indian stock market ended almost unchanged on Monday. The main benchmark indices moved within a limited range during the session.

Meanwhile, investors showed a mixed mood ahead of the Reserve Bank of India’s upcoming monetary policy announcement.

Buying was seen in banking and financial services shares, while metal and IT stocks put pressure on the markets.

The Sensex Concluded Trading at 80,364.94

• Fall: 61.52 points (0.08%)
• Opening level: 80,588.77
• Previous close: 80,426.46
• Day’s high: 80,851.38
• Day’s low: 80,248.84

The Nifty ended at 24,634.90, down 19.80 points or 0.08%.

According to market analysts, “Indian markets opened firm, taking cues from positive global signals, but moved in a choppy pattern throughout the day. The Nifty swung between the 24,800 and 24,600 levels before closing near its day’s end.”

Traders stayed cautious ahead of the RBI’s policy outcome, which is expected to set the next clear direction for markets, they added.

Among Sensex companies, Axis Bank, Maruti Suzuki, Bharti Airtel, ICICI Bank, L&T, HCL Tech, Kotak Bank, and PowerGrid were the top laggards.

On the other hand, Titan, SBI, NTPC, Trent, BEL, Mahindra & Mahindra, Tata Steel, HDFC Bank, Bajaj Finance, Sun Pharma, and Bajaj FinServ finished in the green.

Sectoral indices showed a mixed trend. Nifty Auto slipped 48 points or 0.18%, and Nifty IT closed flat.

Nifty FMCG climbed 98 points or 0.18%, Nifty Bank rose 71 points or 0.13%, and Nifty Financial Services added 21 points.

The broader markets reflected a similar pattern. Nifty Midcap 100 advanced 154 points or 0.27%, Nifty 100 gained 27 points or 0.11%, and Nifty Next 50 jumped 690 points or 1.03%.

However, Nifty Small Cap 100 ended lower.

Also Read: Gautam Adani Pays Tribute To Late Singer Zubeen Garg; Calls Him ‘True Legend’ Of The Northeast