Market ends flat after RBI announces reduction in interest rates

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New Delhi, Feb 07 : Markets ended largely flat on Thursday as amid profit booking by investers, after the the Reserve Bank announced reduction in interest rates.
The BSE Sensex ended 4.14 points, or 0.01 percent, lower at 36,971.09 while the NSE Nifty edged marginally higher by 6.95 points, or 0.06 percent at 11,069.40.
The Reserve Bank of India under its new Governor Shaktikanta Das, cut the repo rate by 0.25 percent to 6.25 percent, a move that will make home and other loans cheaper.
Sun Pharma, Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, were the major gainers in the Sensex pack while RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined.
On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 694.97 crore Wednesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 525.26 crore, provisional data available with BSE showed.
Meanwhile, The 30-share index was trading 161.53 points, or 0.44 percent, higher at 37,136.76. Similarly, the 50-share NSE Nifty rose 33.05 points, or 0.30 percent to 11,095.50.
On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 694.97 crore Wednesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 525.26 crore, provisional data available with BSE showed.
Sun Pharma, Bajaj Auto, HCL Tech, Tata Motors, M&M, Yes Bank, Maruti and Hero MotoCorp were the top gainers in the Sensex pack, rising up to 2.64 percent. On the other hand, Tata Steel, HDFC, Bharti Airtel and Vedanta fell up to 0.51 percent. Asian share markets were in a muted mood on Thursday, a Reuters report wrote. MSCI`s broadest index of Asia-Pacific shares outside Japan was little moved in early trade. Japan`s Nikkei dipped 0.2 percent, while E-Mini futures for the S&P 500 were off 0.06 percent in very thin trade.
The Dow fell 0.08 percent, while the S&P 500 lost 0.22 percent and the Nasdaq 0.36 percent.

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