MUMBAI– Indian equities closed nearly unchanged on Monday as investors traded cautiously ahead of the Reserve Bank of India’s upcoming monetary policy announcement. While banking and financial services stocks attracted buying, weakness in metal and IT counters kept the benchmarks range-bound.
The Sensex slipped 61.52 points, or 0.08 percent, to settle at 80,364.94 after opening higher at 80,588.77. The 30-share index touched an intraday high of 80,851.38 and a low of 80,248.84 before ending in negative territory. The Nifty 50 also closed lower, down 19.80 points, or 0.08 percent, at 24,634.90.
Analysts said the markets mirrored global cues early in the day but soon turned volatile. “The benchmark Nifty oscillated within a narrow range of 24,800 to 24,600 before settling near the close,” they noted, adding that traders are awaiting clarity from the RBI policy as the next key trigger.
Among Sensex constituents, Axis Bank, Maruti Suzuki, Bharti Airtel, ICICI Bank, Larsen & Toubro, HCL Technologies, Kotak Mahindra Bank, and PowerGrid ended in the red. On the gainers’ side, Titan, SBI, NTPC, Trent, BEL, Mahindra & Mahindra, Tata Steel, HDFC Bank, Bajaj Finance, Sun Pharma, and Bajaj Finserv advanced.
Sectoral performance was mixed. Nifty Auto declined 48 points, or 0.18 percent, while Nifty IT finished flat. Nifty FMCG rose 98 points, or 0.18 percent, Nifty Bank added 71 points, or 0.13 percent, and Nifty Financial Services gained 21 points.
In the broader market, Nifty Midcap 100 advanced 154 points, or 0.27 percent, Nifty 100 climbed 27 points, or 0.11 percent, and Nifty Next 50 surged 690 points, or 1.03 percent. Nifty Small Cap 100 bucked the trend, ending lower. (Source: IANS)
