The benchmark CNX Nifty ended almost flat at 8,433.40 today, dragged mainly by pharma and private financials ahead of the key RBI monetary policy review tomorrow.
Earlier, the market momentum was dominated by confident rate cut hope by the central bank amid last weekend's data showing 7.3 per cent GDP growth in 2014-15 coupled with today's HSBC survey showing a four month jump in manufacturing sectors output and good FII inflows.
However, heavy profit-booking in Sun Pharma which dipped 9.16 per cent after the company's fourth quarter results, along with key financials, auto and IT counters swayed the momentum.
While, gains in realty, FMCG, energy and infra counters cushioned the losses.
The CNX Nifty hovered between a high of 8,467.15 and low of 8,405.40 before ending at 8,433.40, showing a mere loss of 0.25 points over its previous close.
Other major Nifty losers were HCL Tech (3.71 per cent), Lupin (2.25 per cent), Bharti Airtel (2.11 per cent), Tata Motors (2.08 per cent), ONGC (1.77 per cent), HDFC Bank (1.46 per cent) and Axis Bank (1.16 per cent).
However, notable gainers were L&T (3.09 per cent), Reliance (2.88 per cent), Maruti (2.57 per cent), HUL (2.47 per cent), Tata Power (2.08 per cent) and ITC (1.51 per cent).
Meanwhile, Foreign portfolio investors bought shares worth a net Rs 2,284.30 crore last Friday, as per provisional data.
Turnover in the cash segment plunged to Rs 15,609.62 crore from Rs 43,621.27 on last Friday. A total of 6,329.13 lakh shares changed hands in 65,01,994 trades and the total market capitalisation of the NSE stood at Rs 99,98,091 crore.
