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Sensex closed flat with a gain of 33 points after roller-coaster rider influenced by the RBI credit policy.
The benchmark Sensex opened on the higher side at 26,611 against the previous close 26,597. It made a high of 26,851 and low of 26,481 before closing at 26,631. The turnover on BSE was up at Rs 3,821 crore against Rs 2,742 crore registered on Monday.
In NSE, the Nifty was up six points at 7,965.
The Reserve Bank of India kept the key bank rates unchanged after a monetary policy review on Tuesday as it waited for more signs of inflation retreating. Interest rate sensitive banking and realty stocks declined after the RBI policy review. PSU oil market companies gained ahead their fortnightly fuel price revision on Wednesday. Tyre stocks rose across the board on persistent fall in rubber prices.
Maruti Suzuki rose two per cent to Rs 3,064. The company announced after market hours on Tuesday that it will proactively inspect and repair the wiring harness fitment of 69,555 diesel vehicles manufactured between March, 2010 and August, 2013. This exercise is limited to vehicles within the above specified range and does not pertain to any other vehicle of the company or its exports. The problem was noticed based on feedback monitoring and internal checks by the company. Accordingly proactive action has been initiated in the interest of customers, said the company.
PSU bank stocks declined after Financial Services Secretary GS Sandhu was quoted on Tuesday saying that state-run banks will soon start raising funds from markets, as part of government's efforts to infuse capital into banks to meet the Basel III norms.
Among public sector banks that declined include Bank of India (-4%), Union Bank of India (-3%), IDBI Bank (-2%), Canara Bank (-2%) and State Bank of India (-0.21%), edged lower.
The major gainers include Eicher Motors (6%), JP Infratech (6%), Apollo Tyres (6%), MRF (5%), Bhushan Steel (5%), Marico (5%) and GSK Consumer Healthcare (5%).
Prominent losers include IndiaBulls Real Estate (-5%), GMR Infra (-5%), Suzlon (-5%), Unitech (-5%), DLF (-5%), JSW Steel (-4%), Shriram Transport Finance (-4%).
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