The SP BSE Sensex and the NSE Nifty 50 Index rose for fourth session in a row but capped gains as investors turned cautious ahead of Reserve Bank of India's three-day policy meet.
Upside in equity markets was capped as gains in HDFC Bank, IndusInd Bank and Maruti Suzuki were offset by losses in ITC, ONGC, ICICI Bank and Tata Motors.
The SP BSE Sensex rose 0.09 per cent or 34 points to 36,617 and the NSE Nifty 50 Index advanced 0.2 per cent or 22 points to 10,934.According to a Reuters poll of 65 analysts, two-thirds have said the Reserve Bank of India (RBI) would hold its repo rate, a surprise change of stance following the appointment of Shaktikanta Das as the central bank chief in December.
The central bank will start its three-day policy meet later in the session.The 'neutral' stance would be in line with Prime Minister Narendra Modi-led Bharatiya Janata Party's aim for a stimulative monetary policy ahead of national elections in May.The RBI's mandate is to control price pressures, which historically have been difficult to tame in India.Fourteen of 19 sector gauges compiled by BSE ended lower led by the SP BSE Realty Index's over 2 per cent decline.
On the other hand, the SP BSE SP BSE Consumer Durables Index was top gainer, up 1.5 per cent.Mid- and small-cap shares underperformed their larger peers as the SP BSE MidCap Index fell 0.54 per cent and the SP BSE SmallCap Index declined 0.9 per cent.Zee Entertainment was top gainer from the Nifty 50 basket of shares, it rose 5 per cent to Rs 365.
Titan, UPL, Dr.
Reddy's Labs and Her MotoCorp were also among the gainer.
On the other hand, Coal India was top loser, down 2.8 per cent to Rs 216.
Tata Motors, Tata Steel, Yes Bank and ONGC also ended with losses.The overall market breadth was bearish as nearly 1,700 shares ended lower while a little over 850 shares ended higher on the BSE.(With inputs from Reuters)