India’s stock market wrapped up Monday on a flat note, with major indices showing little movement as investors played it safe ahead of the Reserve Bank of India’s (RBI) upcoming monetary policy decision.
In Mumbai, the BSE Sensex dipped slightly to close at 80,364.94, down 61.52 points or 0.08%. It kicked off the day strong at 80,588.77, up from Friday’s finish of 80,426.46, but stayed range-bound with a high of 80,851.38 and a low of 80,248.84. The NSE Nifty followed suit, ending at 24,634.90 after a drop of 19.80 points, or 0.08%.
Analysts noted that the Indian stock market opened positively, buoyed by upbeat global cues, but turned volatile as the session wore on. The Nifty hovered between 24,600 and 24,800 before settling near its starting level. “Market players stayed cautious, eyeing the RBI’s policy outcome as the next big driver for direction,” they added.
Buying interest picked up in banking and financial services sectors, giving them a boost, while metal and IT stocks weighed things down. Among Sensex heavyweights, Axis Bank, Maruti Suzuki, Bharti Airtel, ICICI Bank, L&T, HCL Tech, Kotak Bank, and PowerGrid led the losers. On the flip side, Titan, SBI, NTPC, Trent, Eternal, BEL, Mahindra & Mahindra, Tata Steel, HDFC Bank, Bajaj Finance, Sun Pharma, and Bajaj FinServ posted gains.
Sector-wise, the Nifty Auto index fell 48 points or 0.18%, and Nifty IT stayed flat. But Nifty FMCG climbed 98 points or 0.18%, Nifty Bank rose 71 points or 0.13%, and Nifty Financial Services edged up 21 points.
Broader markets showed some spark too. The Nifty Midcap 100 jumped 154 points or 0.27%, Nifty 100 gained 27 points or 0.11%, and Nifty Next 50 soared 690 points or 1.03%. However, the Nifty Small Cap 100 closed lower.
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