At the end of trading hours, the only positive is that the indices have closed in green. Sensex opened on a high note and more or less was stagnant in terms of variations throughout the day. Similarly, Nifty too stayed flat throughout the day.

Nifty closed with a gain of 14 points and closed at 8,143.15, while BSE Sensex ended with a gain of 44 points at 26392.76.

On the global front, most Asian indices closed in green and marginally up. In Europe, the FTSE 100 was down 0.08%. CAC 40 and DAX was up 0.29% and 0.06% respectively while, the US Nasdaq was also up 1%.

All eyes are set on the RBI’s monetary policy meeting today. The results of the meeting will be out within a few hours.

Today’s monetary policy announcement is crucial as it is likely to offer some guidance on the demonetisation drive. Apart from that, the announcement will also offer some clarity regarding economic growth and inflation.

A rate cut, or the lack thereof, is not as crucial as the governor’s thoughts on the impact of demonetisation. We want to know whether he expects the near-term demand slowdown to have a snowball effect on the economy and specific businesses. But no one at the RBI has offered a concrete view so far.

Gold was trading at Rs 27,935 per 10 gms and silver was trading at Rs 41,240 per kg.

The Indian rupee was trading at 67.92 per US dollar.

Out of 1882 stocks traded on the NSE, 698 declined and 904 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (1.87%), HDFC (1.87%), M&M (1.26%), Hero MotoCorp (1.20%) and Tata Motors (1.02%).

Top 5 Nifty Losers: Sun Pharma (-4.28%), TCS (-1.02%), Lupin Ltd. (-0.80%), Wipro (-0.48%) and Tata Steel (-0.44%)

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