Markets have dropped into the green. The Sensex after touching a high of 18,077 started losing strength and has now dropped into the negative zone. The index is now flat at 18,018.
The Nifty is unchanged at 5,416.
The Reserve Bank of India is set to announce a policy review later in the day. Analysts are expecting another 25 basis points rate hike to control the inflation. The RBI is also expected to provide an outline on new banking licenses today.
Market heavyweight, Reliance, will also come out with its numbers today.
The Nifty is up
Hero Honda has jumped 3% to Rs 1,867. Tata Motors has gained 1% at Rs 828.
Hindustan Unilever has added1% to Rs 265. IT stocks- TCS and Wipro have advanced 1% each to Rs 855 and Rs 418, respectively. Infosys is up 0.7% at Rs 2,824.
Hindalco, Sterlite and Cipla are also in green.
On the other hand, Larsen & Toubro has slipped 2.3% to Rs 1,875. DLF and NTPC have dropped 1% each to Rs 309 and Rs 199, respectively.
HDFC, ICICI Bank and Jindal Steel have dropped as well.
The market breadth is poistive. Out of 2,366 stocks traded 1,268 have advanced while 1,018 have declined.
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