Sensex closes flat, realty, banking shares up on RBI rate cut hopes
Of Sensex stocks, Tata Motors gained by 2.49 per cent, followed by Hero MotoCorp 1.84 per cent, Hindalco 1.72 per cent, Sterlite Industries 1.60 per cent, ICICI Bank 1.52 per cent.
The Reserve Bank of India (RBI) is schedueled to unveil third quarter monetary policy review tomorrow.
ONGC at 1.76 per cent was the biggest Sensex loser, followed by RIL at 1.56 per cent, HUL at 0.98 per cent, NTPC (0.97 per cent) and SBI (0.92 per cent).
Among the sectoral indices, the BSE-Oil&Gas fell by 1.14 per cent, BSE-CD 0.91 per cent, BSE-CG 0.65 per cent and BSE-Power 0.52 per cent while BSE-Realty rose by 1.84 per cent, BSE-Auto by 1.03 per cent and Bankex 0.68 per cent.
Market breadth remained positive as 1,213 stocks ended higher while 992 scrips finished lower. Total market turnover dropped further to Rs 2,009.83 crs from the last Friday's level of Rs 2,363.58 crore.
Analysts said expectations are already built for 0.25 per cent cut. So, a 0.25 per cent cut would make it a non-event and markets would continue to take cues from the quarterly results and FII flows.
"Apart from the results season, FII flows have been a key factor in the sustenance of markets at high levels, Bavishi said.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 586.87 crore on last Friday, as per provisional data from stock exchanges.
Most of the Asian stocks ended firm after a corporate-results-driven rally on Wall Street last Friday amid
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