Sensex, Nifty go flat; capital goods, financials lag

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Investors are looking forward to the announcement of the Reserve Bank of India's monetary policy meeting, which begins today, along with a slew of earnings numbers.

The Nifty50 rose by 62.60 points, or 0.63 per cent, to close at 10,077.10 points, while the Sensex closed at 32,514.94 points - up 205.06 points or 0.63 per cent.

Nifty50 hit a fresh all-time high of 10,128.60, backed by a solid show by auto, metal, pharma and IT stocks.

In the Nifty chart, Eicher Motors (up 4.88 per cent), Indiabulls Housing Finance (up 4.83 per cent), Tech Mahindra (4.09 per cent), Bharat Petroleum Corporation (up 2.93 per cent), Bosch (up 2.88 per cent) and Hindalco Industries (up 2.71 per cent) stood as top gainers.

In terms of the broader markets, the S&P BSE mid-cap index was up 0.45 per cent, whereas the small-cap index was down 0.12 per cent.

The rupee firmed up by 14 paise to 64.05 against the USA dollar today as exporters and banks intensified selling of the American currency.

DIIs bought shares worth a net Rs 424.67 crore while FPIs net sold shares worth Rs 223.12 crore on Friday, as per provisional data. "Private survey showing Indian manufacturing activity contracting in July kept gains of indices under check", said Deepak Jasani, Head of Retail Research, HDFC Securities.

A spell of profit-booking kicked in for realty and power sectors as well despite positive Asian shares.

On the macro front, data released during market hours showed that India's manufacturing sector's output declined last month due to the launch of the Goods and Services Tax (GST) and weak demand.

Expectations the central bank will relax policy rates in its policy meet on Wednesday considering inflationary trend is turning benign, too buoyed sentiment. Bank of Baroda was the top Nifty loser, down 1.53 per cent. SBI, Canara Bank and PNB were the other banking losers, falling between 1 per cent and 2 per cent.