Markets end flat ahead of RBI policy outcome; banking, financial services stocks rise

The Indian stock market concluded Monday’s trading session with minimal movement. Benchmark indices remained range-bound throughout the day as investors adopted a wait-and-see stance ahead of the Reserve Bank of India’s monetary policy decision. While banking and financial services stocks witnessed buying interest, the metals and IT sectors faced downward pressure.

Sensex closed at 80,364.94, down 61.52 points or 0.08%. The 30-share index opened higher at 80,588.77, compared to the previous close of 80,426.46, but remained within a narrow trading band. The day’s high and low stood at 80,851.38 and 80,248.84 respectively.

Nifty mirrored this trend, settling at 24,634.90 with a decline of 19.80 points or 0.08%.

Market analysts noted that despite positive global signals, the domestic indices remained volatile. “After opening in positive territory, the Nifty oscillated within a tight range between 24,800 and 24,600, eventually closing near its daily low,” one market observer explained. The upcoming RBI policy announcement has emerged as the key focal point for directional cues, as investors are keenly assessing the potential impact on interest rates and economic growth.

Significant movers included Axis Bank, Maruti Suzuki, and Bharti Airtel, which emerged as the top losers among Sensex constituents. Titan, State Bank of India, and NTPC, meanwhile, led the gainers. Sectoral performances were mixed. The Nifty FMCG and Nifty Financial Services indices registered gains, while Nifty Auto and Nifty IT lagged in trade.

Broader market indices mirrored the cautious sentiment, with Nifty Midcap 100 and Nifty 100 posting modest upticks. However, Nifty Smallcap 100 ended in negative territory, reflecting the selective risk appetite among market participants.

(With inputs from IANS)