Mumbai: The market ended flat with negative bias ahead of RBI monetary policy review on Tuesday. The Nifty touched 7600 intraday but was seen struggling below the psychological level most of the time.
The 50-share index was down 7.60 points or 0.1 per cent at 7555.95 and the Sensex slipped 45.86 points or 0.2 per cent at 24824.83.
The Reserve Bank of India is unlikely to take any interest rate action at the monetary policy meeting tomorrow. According to a CNBC-TV18 poll of economists the market seems to have factored in a no-action policy from RBI chief Raghuram Rajan at the bi-monthly meet. The RBI is also likely to maintain the word 'accommodative policy' in its monetary policy statement.
Around 60 per cent of respondents believe that there will only be one 25 basis points bps rate cut in the entire calendar and the remaining 40 percent are divided between a 50 bps and 75 bps rate cut from the govern
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