Markets open flat ahead of RBI Monetary Policy, Asian near 8-month peak

New Delhi: Markets opened flat ahead of RBI Monetary Policy on Thursday.

The RBI's Monetary Policy Committee (MPC) is three-day meeting started on Tuesday with the Investors hoping that the central bank will go for a rate cut in its monetary policy announcement.

In early trade the BSE Sensex rose 33.25 points or 0.09 percent to 38,910.37 while the NSE Nifty rose 7.65 points to 11,651.60.

Major gainers in the Sensex pack were Airtel, Asian Paint, Tata Motors, Axis Bank, Powergrid, Heromotocorp, Bajaj Finance, Maruti, HUL, L&T, Bajaj Auto and Reliance, rising by upto 2.30 percent. While Vedanta, ONGC, Infosys, Tata Steel, Yes Bank, and HCL, were trading in red, falling by upto 2.93 percent.

Asian shares held near an eight-month peak. Chinese shares started firm with the blue-chip index up 0.9 percent. Hong Kong`s Hang Seng index was a tad softer. Japan`s Nikkei nudged 0.2 percent higher to stay near a recent one-month top, a Reuters report said.

With Agency Inputs