Sensex range-bound banks fall, telcos gain

SENSEX-PARLIAMENT-HDFC-AXIS-BHARTI:Sensex range-bound banks fall, telcos gain

The Sensex and the Nifty are trading flat, after both indexes fell in each of the previous six sessions.

Traders remain cautious ahead of the winter session of parliament set to start on Thursday. The government's will to pass reforms is considered critical to revive stock markets that have faltered over the past month and a half.

Rate-sensitive stocks fall on worries that last week's data showing easing inflation is unlikely to result in a repo rate cut this year.

HDFC is down 0.7 percent, while Axis Bank falls 1.1 percent.

However, telecom stocks extend a recent rally after last week's auction of 2G spectrum fetched lower prices than the government had targeted.

 

Bharti Airtel gains 2.4 percent, after surging 9.3 percent last week.