Sensex, Nifty Close Nearly Flat Ahead of RBI Policy Decision
MUMBAI, India — Indian equity markets ended nearly flat Thursday as investors remained cautious ahead of the Reserve Bank of India’s Monetary Policy Committee decision, which is scheduled to be announced Friday.
The Nifty rose 10.95 points, or 0.05 percent, to close at 23,416.55. The Sensex gained 13.84 points, or 0.02 percent, to end at 74,360.01.
Market analysts said 23,500 remains a key level for the Nifty’s short-term trend.
“A decisive close above this level could improve sentiment and pave the way towards 23,600, followed by 23,800, where significant call writing and supply are visible,” an analyst said.
On the downside, analysts said the 23,300-to-23,350 range continues to serve as immediate support, followed by a stronger demand zone between 23,150 and 23,200, which has drawn buying interest in recent sessions.
Despite the marginal gains, market sentiment remained subdued as participants avoided large positions ahead of the RBI policy outcome.
Infosys, Bajaj Finserv and Hindalco Industries were among the major laggards in the Nifty pack, weighing on the index during the session. Weakness in select heavyweight stocks limited gains in the benchmarks.
Broader markets performed better. The Nifty MidCap index ended 0.46 percent higher, while the Nifty SmallCap index gained 0.49 percent.
Sector performance was mixed. Nifty IT, Nifty Metal and Nifty Chemical underperformed, reflecting pressure in export-linked and commodity-driven segments. Consumer-facing sectors saw buying interest, with Nifty Consumer Durables and Nifty Media among the top performers.
Investors are now awaiting the outcome of the RBI’s Monetary Policy Committee meeting for signals on interest rates and liquidity conditions, which are expected to shape near-term market direction. (Source: IANS)
