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Markets trade flat ahead of RBI credit policy

 Markets trade flat ahead of RBI credit policy
Markets were trading marginally lower ahead of the RBI credit policy to be declared later today. The Sensex was down by 22 points, while the lost 6 points in early trade.

Banking stocks were trading flat ahead of the RBI credit policy. ICICI Bank was up 0.25 per cent, while IndusInd Bank gained 0.30 per cent. HDFC Bank was marginally lower, while most of the PSU banking stocks were trading higher. Bankers expect RBI to maintain its status quo on rates in the credit policy to be unveiled at 11 pm.

Software stocks continued to grind higher with TCS, Wipro and HCL Tech among the gainers. FMCG stocks like Hindustan Unilever and ITC, were trading lower for a third day in a row.

Jet Airways continued to rally on hopes that its deal with Etihad would be cleared shortly. Jaypee Infra which reported numbers on Monday lost ground after its net profits disappointed the streets.

Sesa Goa and Sterlite Industries along with other metal stocks continued to drop lower once again. Other metal stocks which fell were Jindal Saw and Hindalco Industries.

Infrastructure major Larsen and Toubro was among the few non IT stocks that gained in trade today on fund based buying in the counter.

Wockhardt fell 5 per cent once again and was locked at the lower end of the circuit filter. Meanwhile, most of the markets in Asia were trading higher led by strond gains in the Japanese Nikkei and the Chinese Shanghai Composite.

Read more about: sensex nifty
Story first published: Tuesday, July 30, 2013, 9:43 [IST]
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