Sensex ends flat on profit-booking ahead of RBI monetary policy
Stocks of gold finance companies were also in demand after the recent recovery in precious metal prices, reducing default risks.
Mumbai: The BSE benchmark Sensex on Tuesday ended flat with a small rise of 10 points as cautious investors indulged in profit-booking ahead of the monthly settlement in derivatives segment and the RBI monetary policy meet on May 3.
Trading sentiment further influenced on a weakening Asian trend but better opening in Europe supported the market to end in a positive zone for the third straight day. The Sensex rose 9.53 points, or 0.05 per cent, to close at
19,179.36. It touched the day's high of 19,210.26 and a low of 18,042.08. The index had gained 439 points in last two sessions.
Similarly, the National Stock Exchange index Nifty edged up 2.50 points to 5,836.90, after dipping to a low of 5,791.55. Brokers said investors remained cautious ahead of a monthly settlement in the derivatives segment on Thursday and the Reserve Bank of India monetary policy meet on May 3.
They said selling pressure was more confined to recent gainers in financial and capital goods sectors, while firm trend in healthcare and IT stocks saved the market any major fall. Major supporters to the market were heavy weight Reliance Industries and Infosys Technologies. RIL rose 1.74 per cent to Rs 803.50 and Infosys by 0.79 per cent to Rs 22,62.10. The two carry nearly 16 per cent weightage on the Sensex.
Stocks of gold finance companies were also in demand after the recent recovery in precious metal prices, reducing default risks. Muthoot Finance rose 1.69 per cent to Rs 129.60 and Manappuram Finance by 3.83 per cent to Rs 1,760. In 30-BSE index components, 15 stocks gained while other 15 declined.