Sensex ends flat; RBI policy review, Gujarat elections eyed

Markets open on a negative note Sensex 0.19 per cent down

Mumbai: Markets turned weak in a choppy trade on Tuesday as cautious investors kept their powder dry ahead of the Reserve Bank of India's (RBI) policy announcement amid subdued macro cues. The RBI's two-day monetary policy review kicks off today and the decision is due tomorrow.

At 6.30 am, Nifty futures on the Singapore Stock Exchange were trading 27 points, or 0.27 per cent lower at 10,133.50, indicating a negative start for the Nifty50 in India.

At 12.30 PM: Sensex was down by over 110 points or 0.34% to 32,759.48 while the wider Nifty was dpwn by over 31 points or 0.31% to 10,096.40.

Out of 1,975 stocks traded on the NSE, 563 advanced, 941 declined, and 471 remained unchanged today.

UK Services PMI Falls in November
Higher levels of business activity in November was driven by a further solid upturn in new work, the survey revealed. Moreover, the rate of prices charged inflation was the second-fastest seen since the survey began in 1996.

Russian Federation lists U.S. media organizations as foreign agents
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Lacroix and PlexCorps were also charged with violating the requirement to register all securities offerings with the SEC. The alleged scam promised its investors a highly unrealistic 13-fold return on investment in less than a month.

Data released during market hours revealed that the Nikkei Services purchasing managers' index in November fell to 48.5 points - the lowest since August - from 51.7 the previous month. The broader market depicted a mixed trend, with the BSE mid-cap ending up 0.41%, while small-cap index finished 0.03% down.

Sector-wise, the S&P BSE IT index gained by 145.14 points, metal index by 68.85 points and Teck (technology, media and entertainment) index by 64.81 points.

Other losers included Tata Steel, NTPC, Dr Reddy's, ONGC, Power Grid, Bajaj Auto, L&T, M&M, Asian Paints, HDFC Bank, HUL, Lupin, Coal India, ITC, Tata Motors, Axis Bank, Maruti Suzuki and Infosys, falling by up to 1.71%. "It is expected central bank to keep interest rates on hold for a prolonged period starting with its policy meeting on concerns of rising inflation", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

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