Sensex, Nifty flat ahead of RBI's monetary policy review

Mumbai, Feb 8: Key benchmark indices continued to trade flat, with Sensex down 7 points and Nifty up 4 points in late morning trade after a tepid opening as investors awaited outcome of two-day monetary policy committee meeting later 

today amid bearish Asian cues.

The Sensex opened higher at 28,386.08 and later drifted to 28,305.91. At 1100 hrs, the 30-share barometer was quoted marginally lower by 6.61 pts, or 0.02 per cent, at 28,328.55. 

The NSE 50-share Nifty was up 4.20 points, or 0.05 per cent, at 8,772.50 at 1100 hrs. 

Among the major losers were, Axis Bank 1.85 per cent, ITC 1.21 per cent, Infosys 0.88 per cent and Dr Reddy 0.71 per cent.

However, Cipla rose by 1.62 per cent, Wipro 1.33 per cent, Tata Motors 1.30 per cent, M&M 1.20 per cent, GAIL 1.09 per cent and TCS 1.08 per cent.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 201.13 crore yesterday, as per the provisional data released by the stock exchanges. 

Domestic institutional investors (DIIs) also bought shares worth a net Rs 1,620.03 crore as per the provisional data. 

Overseas, Asian shares dipped on lingering political and economic uncertainty in the United States and Europe which sapped investor confidence.