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Sensex Ends Flat As RBI Maintains Status Quo On Interest Rates

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Benchmark indices ended the day flat, even as the Reserve Bank of India (RBI), kept interest rates steady in its Monetary Policy meet.

The Sensex ended the day higher by 19 points, while the Nifty closed the day up by 20 points. Banking stocks were the biggest losers in trade following the RBI Policy.

Bank of Baroda, Yes Bank and Axis Bank were the major losers in trade from the banking space. Metal stocks jumped in trade with Vedanta and Tata Steel among the top Nifty gainers. Bharti Airtel was the top loser from the Nifty, along with Axis Bank and Gail.

Sensex Ends Flat As RBI Maintains Status Quo On Interest Rates
Bharti Airtel saw a drop in its share price after Credit Suisse maintained an underperform rating and lowered its target price on the stock.
 

IT stocks also saw some selling pressure with Infosys and TCS among the losers. Jubilant Life jumped almost 8 per cent after the company received ANDA approval for antidepressant tablets Paroxetine.

The Mid cap index also ended the day flat, though select stocks like Jubilant Foodworks and Just Dial saw losses in trade. Steel Strips ended higher after the company bagged an export order from JLR UK.

Meanwhile, most of the Asian markets ended the day with solid gains, while Europe was trading mixed. The German DAX was trading with marginal losses, while the UK's FTSE was higher.

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