Nifty closes flat ahead of RBI policy meeting

Nifty opened constructive on Wednesday however quickly misplaced some sheen to shut flat at 21,931 ranges. Barring IT, all different sectors led to inexperienced, mentioned Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Buying was seen within the PSU Bank and Realty sectors. The Realty sector was in momentum amid wholesome Q3 numbers from the real-estate firms, whereas IT noticed some revenue reserving after an up-move in the previous few periods, he mentioned.

Overall, the market remained on the side-lines ahead of the RBI policy meeting end result on Thursday, he added.

On the financial entrance, US retail gross sales information and China’s CPI information will probably be launched in a while Wednesday.

Investors would proceed to take cues from the earnings season. Insurance large LIC will announce outcomes on Thursday, the place new enterprise premium development is anticipated to stay wholesome, Khemka mentioned.

Vinod Nair, Head of Research at Geojit Financial Services, mentioned the home market exhibited cautious range-bound motion on Wednesday, regardless of sturdy PMI information and beneficial international cues ahead of the RBI policy meet.

While no change in stance is anticipated, RBI’s commentary on any hints relating to potential price cuts and enhancements in liquidity will probably be carefully monitored.

(With inputs from IANS)