Stock Markets Open Flat, Nifty Bank Index Lags

Flat Market

Stock markets opened flat on Thursday as investors’ attention focused on RBI’s monetary policy decision to be announced today. The Central Bank is likely to reduce rates for the second-time in a row this year with retail inflation keeping low and Indian economy showing muted growth prospects.

At 10.15am, the BSE Sensex was trading at 38,848, down 28 points, while the the NSE Nifty50 was ruling at 11,33, down 10 points.

Indiabull Housing, Bharti Airtel, Ultratech, Titan and Asian Paints, were top gainers on NIfty, while UPL, HCL Tech, Hindalco, Adani Ports and Yes Bank fell the most.

The Nifty Bank was trading flat while auto and realty gained ahead of the RBI policy outcome, both Nifty Auto and Realty were top performing sector on NSE, up nearly half a percent.

India Rupee opens at 68.53 with a loss of 11-ps in comparison to last day’s close of 68.42per dollar. Ten-year benchmark bond-yield also showed lower at 7.258percent as against Wednesday’s price of 7.27percent.

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