Markets close flat, Sensex above 33600-mark

Markets close flat, Sensex above 33600-mark

Bank Nifty too rose 2.61% or 630 points to 24,759 level.

The broader Nifty of the National Stock Exchange gained 196.75 points, or 1.94%, to close at 10,325.15. The SGX Nifty is pointing that Nifty may open with gains of around 167 points at 10,297.

The Sensex has so far touched a high of 33614.49 points and a low of 33,554.46 points during the intra-day trade.

Brokers said, selling by participants, mostly of a profit-booking nature, attributed to fall in select counters but a firm trend at other Asian markets kept the fall limited.

Bank and metal stocks hogged the limelight right through the session. Realty, capital goods, information technology, consumer durables and automobile stocks also had a good outing. The RBI said, "On the basis of an assessment of the current and evolving macroeconomic situation1 at its meeting today, the Monetary Policy Committee (MPC) chose to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent".

More news: Koreas Start preparatory talks to Install Kim-Moon summit

The BSE market breadth was bullish with 2,071 advances and 631 declines. It is understood that five of the six members of the committee voted in favour of holding the rate. The reverse repo rate, at which it borrows from banks and absorbs excess liquidity, will remain at 5.75%. However, the policy undertone was more neutral this time versus the hawkish stance in the previous policy.

Besides the global trade tension, local investors were edgy ahead of the RBI's monetary policy announcement on Thursday.

The apex bank projected CPI inflation for 2018-19 to stand at 4.7-5.1 percent in first half of 2018-19 and 4.4 percent in second half, including the HRA impact for central government employees, with risks tilted to the upside.

The Reserve Bank also said India's economic growth rate is expected to strengthen to 7.4% in the current fiscal, from 6.6% in 2017-18, on account of revival in investment activity.

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