Nifty almost flat post RBI announcement

A fag-end rebound in key indices lifted Nifty to end almost flat with marginal gain of 0.75 points to finish at 8,769.05 after RBI kept its policy rate unchanged at 6.25 per cent.
Contrary to market expectations, the central bank kept its policy rate unchanged at 6.25 per cent for the second meeting in a row, citing lack of clarity on inflation on transitory effects of demonetisation, while changing the policy stance from 'Neutral' from 'Accomodative'.
The key indices opened on a flat note, largely traded in range witnessing volatility and fall of nearly 53 points during intra-day post RBI announcement before showing fine recovery during late session to end almost flat.

Overseas, Asian markets ended mixed, while European stocks also trading narrowly mixed.
The NSE 50-share Nifty index opened slightly higher at 8,774.55 and hovered between 8,791.25 and 8,715.00 before finishing at 8,769.05, a mere gain of 0.75 points, or 0.01 per cent, from its previous close.
It saw an intra-day movement of about 76.25 points.

Key Nifty index CPSE rose 1.43 per cent followed by Media 1.20 per cent, while Metal gained 0.88 per cent, Realty 0.75 per cent, Commodities 0.74 per cent, Auto 0.63 per cent, Infra 0.57 per cent and Energy 0.29 per cent.
Also midcap shares moved up 0.46 per cent and small cap by 0.39 per cent.

However, banking space are all on losing side post RBI announcement, with Pvt Bank 0.48 per cent, Financials 0.42 per cent, Bank 0.40 per cent, PSU Bank 0.31 per cent, while FMCG down 0.49 per cent and Pharma 0.19 per cent.
Stockwise, major index gainers were Infratel (2.90 per cent), ACC (2.81 per cent), BHEL (2.73 per cent), Grasim (2.71 per cent), Bosch Ltd (2.15 per cent) and IDEA (2.05 per cent).
However, Dr Reddy fell (1.62 per cent), Axis Bank (1.18 per cent), Hero Moto (1.14 per cent), SunPharma (1.11 per cent) and HCL Teck (0.88 per cent).
A total of 865 scrips advanced and 779 declined while 68 remained unchanged. The total number of securities that hit their price bands was 102.

Turnover in the cash segment dropped to Rs 22,189.16 crore, from Rs 30,695.96 crore yesterday.
A total of 13,586.07 lakh shares changed hands in 84,63,879 trades. The market capitalisation of NSE stood at Rs 11,426,557 crore.