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Markets have turned flat after making a marginally higher opening ahead of RBI’s policy review later today. By 9:30, the Sensex was higher by 8 points at 19,186 levels whereas the Nifty dipped by 5 points at 5,803 levels.
On the global front, benchmark US share indices ended lower on Friday for the third week in four on rising concerns that global central banks might soon start curtailing their stimulus measures. The Dow Jones, S&P 500 and Nasdaq ended down over 0.6 per cent each.
Japan's Nikkei share average climbed 1.2% on Monday as buying in defensive stocks helped reverse early losses, nudging the benchmark out of bear market territory. By the midday break, the Nikkei was up 152.14 points at 12,838.66 after trading as low as 12,549.82 on the back of weak US stocks on Friday.
Monday's gain took the index above its 100-day moving average at 12,735.31 but remained below the Ichimoku cloud in a bearish sign.
Back home, BSE Auto index has gained by nearly 1% followed by counters like TECk, IT, Healthcare, Oil & Gas and Metal, all gaining marginally. However, BSE Consumer Durable index has declined by almost 1%.
The main gainers on the Sensex at this hour include M&M, Bharti Airtel, Hero Moto, Hindalco, Infosys and Dr Reddy’s.
On the losing side, Tata Motors, JSPL, GAIL, ITC and NTPC have fallen by 1% each.
Among other shares, Jet Airways (India) has tanked 12% to Rs 412 in opening deals on BSE as the government deferred clearance of the Etihad's proposal to buy a 24% stake in the domestic airline.
The market breadth in BSE remains marginally positive with 459 shares advancing and 346 shares declining.
