Markets open flat amidst caution ahead of RBI monetary policy

New Delhi: Markets opened in flat zone on Tuesday as investors remained on the sidelines ahead of RBI's monetary policy review announcement.

RBI's second bi-monthly monetary policy meeting of 2018-19 is being held from June 4-6.

The BSE Sensex surrendered early gains and was trading 16.80 points lower to trade at 34,995.09. Similarly, the NSE Nifty was trading down 14.2 points at 10,614.30.

Sectoral indices led by power, banking, realty, capital goods and PSU declined up to 1.20 percent.

The NSE Nifty also shed 33.55 points, or 0.32 percent, to 10,594.95.

Shares of Powr Grid, Yes Bank, Bharti Airtel, Dr Reddy's, Infosys, Hero MotoCorp, L&T, HUL, Axis Bank, Bajaj Auto, HDFC Ltd and NTPC were trading in the negative zone with losses of up to 2.41 percent.

MSCI`s broadest index of Asia-Pacific shares outside Japan slipped 0.1 percent after surging 1.4 percent the previous day.

Japan`s Nikkei gained 0.2 percent and South Korea`s KOSPI lost 0.3 percent. Wall Street`s three major indexes rose overnight, led by a rally in tech stocks, pushing the Nasdaq to a record closing high.

With Agency Inputs