RBI's status quo policy keep markets flat

Indian markets traded weak on Wednesday ahead of monetary policy. Markets ended with a flat note after RBI announced status quo on repo rate. Nifty was not able to hold on to the level of 8800.

BSE Sensex declined 0.16 per cent and Nifty increased just 0.01 per cent. At the closing bell, Nifty ended with 8769 and the BSE Sensex closed at 23289. On the NSE, 32 shares closed in the green, while 19 shares ended the day in the red.

Half of the indices ended in green as well as red. The Consumer Durables index increased 3741 points. Auto, Metals and Oil & Gas indixes rose 150 points, 101 points and 91 points, respectively. Bankex, FMCG and Healthcare decreased 86 points, 35 points and 39 points, respectively. Mid-cap and Small-cap indices increased 68 points and 29 points, respectively.

Asian markets remained weak on Wednesday. Shanghai rose 0.44 per cent. Hang Seng also increased 0.51 per cent. Nikkei rose 0.51 per cent. However, KOSPI and Taiwan’s TAIEX declined 0.49 per cent and 0.12 per cent respectively.

European markets were also trading on a mixed sentiment.

Derivative Analysis

Nifty Future closed on a positive note at 8803. Going ahead, 8879/8736 will be the immediate support levels.