The S&P CNX Nifty of the National Stock Exchange today closed almost stable at 6,074.80 as cautious operators and investors preferred to stay away ahead of the announcement of third quarter monetary policy by the apex bank tomorrow.
The 50-issue Nifty was trapped in a narrow range of 6,088.40 and 6,061.40 before settling at 6,074.80, just up by 0.15 points from previous close of 6,074.65.
Auto, realty and banking counters mainly attracted good buying support on hopes of rate cut by the Reserve Bank of India (RBI) tomorrow.
According to market participants, the 25 basis point cut is already factored in, but if it is more than that then only the market will get further boost, otherwise it will fell back.
Foreign Institutional Investors (FIIs) continued their buying spree and they picked up shares worth Rs 586.87 crore on last Friday as per provisional data with stock exchanges.
Asian markets closed mixed with upward bias while European stocks, too, were quoting narrowly mixed in their afternoon trade.
Top five gainers from the Nifty were DLF 2.68 pct, Tata Motors 2.51 pct, HCL Tech 2.28 pct, Axis Bank 1.93 pct and Hero MotoCorp 1.90 pct, while top five losers were Jaipra Asso 2.19 pct, REL Infra 2.04 pct, ONGC 1.80 pct, RIL 1.61 pct and Ultra Cement 1.57 pct.
Turnover in the cash segment dipped further to Rs 11,025.61 crore from Rs 12,914.84 crore last weekend. A total of 6,211.25 lakh shares changed hands in 53,73,999 trades. The market capitalisation stood at Rs 68,72,596 crore.