Sensex, Nifty Seen Up On Global Cues

The market ended flat with negative bias ahead of RBI monetary policy review on Tuesday. According to a CNBC-TV18 poll of economists the market seems to have factored in a no-action policy from RBI chief Raghuram Rajan at the bi-monthly meet.

The Sensex of the S&P Bombay Stock Exchange (BSE) after opening at 24,982.22 points touched a high of 25,002.32 and a low of 24,872.52 points in the morning.

On Modnay, the Sensex is trading at 24,927.48 points up by 56.79 points or 0.23 percent.

The broader NSE Nifty also moved up 28.80 points, or 0.38 per cent, to 7,592.35. Bank Nifty ended 1.3 percent lower, while SBI slipped 4 percent.

Meanwhile, manufacturing sector returned to growth in January, expanding at a four-month high pace on rise in new business orders, a monthly survey showed today, adding to the expectations of RBI keeping rates unchanged.

The 30-scrip Sensitive Index (Sensex) on Monday opened on a positive note during the morning session of the trade. Maruti Suzuki India, the maker of half the cars sold in India, slid the most in a week after sales fell in January.

Shares of ICICI Bank, State Bank of India, Axis Bank and Bank of Baroda were down by 4.43 per cent, 3.45 per cent, 2.49 per cent and 2.15 per cent, respectively, in the late afternoon trade.

Among the gainers were Adani Ports, Coal India, Bharti Airtel, Cipla and L and T.

European stocks were trading in negative terrain in their early trade as disappointing Chinese data dented investor enthusiasm after the last week’s rebound.

The broader markets, however, outperformed with the mid-cap index and small-cap rising up to 0.57 per cent.