Sensex ruling in tight range ahead of monetary policy review
A benchmark index of Indian equities was ruling in a tight range around noon Thursday, ahead of the periodical review of the monetary policy by the Reserve Bank of India (RBI).
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,698.58 points, was ruling at 19,678.73 points – up 30.96 points or 0.16 percent from its previous close of 19,647.77 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty was trading flat at 5,890.05 points.
The Reserve Bank of India is slated to come out with its periodical review of the monetary policy a little after noon, where-in key interest rates are expected to be left unchanged.
Broader markets too were in the green, with the BSE midcap index ruling 0.29 percent up and the BSE smallcap index trading 0.35 percent higher.
IT and telecom scrips were up, while auto consumer durables and power scrips came under selling pressure.
The market breadth was positive, with 1,445 stocks advancing, compared to 1,196 scrips on the decline, while 96 stocks were unchanged.
Other Asian markets were also in a slump. The Japanese Nikkei closed flat at 10,311.29 points.
The Shanghai Composite Index was ruling 0.15 percent lower at 2,906.96 points, while the Hong Kong’s Hang Seng was trading 0.38 percent down at 22,888.74 points.