FINAL TRADE: Nifty, Sensex end flat as investors await RBI monetary policy; IT stocks slip
Stock market today: The headline indices ended flat as gains in financial and real estate stocks were offset by a slide in the IT pack.
Stock market today: It was a listless day on Dalal Street on Wednesday, February 7, amid a lack of direction. The headline indices ended flat as gains in financial and real estate stocks were offset by a slide in the IT pack. Furthermore, investors eagerly awaited the RBI monetary policy, due to be released tomorrow.
The Nifty50 index ended 1.1 points, or 0.01 per cent, higher at 21,930.5, while Sensex settled the day 34.09 points, or 0.05 per cent, lower at 72,152. The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank, finished the day 127.7 points, or 0.28 per cent, higher at 45,818.5.
Meanwhile, the Nifty SmallCap 100 ended 0.71 per cent higher and the Nifty MidCap 100 closed 0.75 per cent stronger, respectively.
SBI, Grasim, HDFC Life, and JSW Steel were among the top gainers in the Nifty basket, trading with gains of around 4–2 per cent. On the other hand, Tech Mahindra, Power Grid, Infosys, and Adani Ports were among the top losers, down nearly 3-1 per cent.
Investors will now keep track of the outcome of the three-day RBI monetary policy meeting on Thursday. The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators.
"The domestic market exhibited cautious range-bound movement, despite robust PMI data and favourable global cues ahead of the RBI policy meeting. While no change in stance is anticipated, the RBI's commentary on any hints regarding potential rate cuts and improvements in liquidity will be closely monitored," Vinod Nair, Head of Research, Geojit Financial Services, said.
Global Market
European shares were flat at open on Wednesday; gains in companies with upbeat earnings reports were offset by a decline in Deutsche Post. The pan-European STOXX 600 index was unchanged at 486.57 points as of 0826 GMT.
TeamViewer's shares jumped 10.9 per cent to the top of the benchmark index after the German software developer reported higher-than-expected fourth-quarter revenue and earnings.
For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.