Market ends flat after RBI announces reduction in interest rates

New Delhi: 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.

With Agency Inputs