Sensex ends flat ahead of RBI policy meet

MUMBAI: The benchmark index of the Bombay Stock Exchange (BSE) on Monday ended on a flat note at 20,103.35, following brisk selling of select stocks like Oil and Gas, Capital Goods and Power.

The Nifty of National Stock Exchange (NSE) also ended steady at 6,074.80.

The BSE Sensex opened on a positive note, up by 26 points to 20,129.00 The index gained by 68.92 points to the day’s high of 20,172.45 till noon trade. Later, it erased the gains of morning trade, and closed steady at 20,103.35 points as compared to its

previous close.

The index fell 40.74 points to the day’s low of 20,062.79 during the day. Index heavyweight and cigarette maker, ITC rose marginally. Another index heavyweight, Reliance Industries (RIL) extended intraday losses in late trade.

Interest rate sensitive automobile and realty stocks rose as the Reserve Bank of India (RBI) is seen cutting its key policy rate viz the repo rate by 25 basis points (bsp) at Third Quarter Review of Monetary Policy 2012-13 today. Reliance Infrastructure (RInfra) edged lower as an exceptional one-time profit of ` 418.34 crore on sale of shares of Reliance Power lifted the company’s bottom line in Q3 December 2012.

Adani Power dropped as the company’s net loss widened in Q3 December 2012 over Q3 December 2011.

In sectoral indices, Realty, Auto, Bankex, IT and Metal were seen positive while Oil and Gas, Capital Goods, Power, PSU stocks erased the gain and brought the market on a steady level.

In scrips, Tata Motots, Hero MotoCorp, Hindalco Industries and ICICI Bank improved while ONGC, Reliance, Hind Unilever and SBI lost. The market may remain volatile this week as traders roll over positions in the futures and options (F&O) segment from the near month January 2013 series to February 2013 series. The January 2013 F&O contracts expire on Thursday.

The Nifty registered the day’s high and low at 6,088.40 and 6,061.40 points, respectively.

On BSE 1,584 shares rose while 1,345 shares fell and 118 remained unchanged. The total turnover on the BSE was of ` 1,998 crore, lower than ` 2,363.58 crore on Friday last.

Among the 30-share Sensex pack, 15 rose while the rest fell.

The Asian stocks edged up today, with the key benchmark indices in China, Hong Kong, Taiwan and Singapore rising by between 0.14 per cent and 2.41 per cent. The sectoral indices that rose were Realty up by 1.84 per cent, Auto by 1.03 per cent, Bankex by 0.68 per cent, IT by 0.44 per cent, Metal by 28 per cent, Technology by 0.27 per cent and FMCG by 0.1 per cent.

The indices that declined were Oil and Gas down by 1.14 per cent, Consumer Durables by 0.91 per cent, Capital Goods by 0.65 per cent, Power by 0.52 per cent and Health Care by 0.07 per cent.

Shares of banking giant, State Bank of India (SBI) shed by 0.96 per cent to ` 2,489.

Bank of India fell by 2.85 per cent. The bank reported 12.19 per cent growth in net profit to ` 803.48 crore on 11.96 per cent increase in total income to ` 8,959.83 crore in Q3 December 2012 over Q3 December 2011.

Purchases of both residential and commercial property are largely driven by finance. DLF increased by 2.69 per cent, Indiabulls Real Estate up by 1.18 per cent, Unitech by 2.47 per cent, Godrej Properties by 0.85 per cent and Parsvnath Developers by 0.4 per cent.

Housing Development and Infrastructure (HDIL) rose by 1.7 per cent in volatile trade.

L&T fell by 1.08 per cent on profit-booking after gains in previous two trading sessions triggered by good Q3 results.

Reliance Infrastructure (RInfra) edged down as an exceptional one-time profit of ` 418.34 crore on sale of shares of Reliance Power lifted the company’s bottom line in Q3 December 2012. The stock shed 2.12 per cent.