Apr 16, 2012, 03.21 PM | Source: Reuters

BSE Sensex flat; all eyes on inflation data

SENSEX-INFLATION-ICICI-BANKS-RBI-RATE:BSE Sensex flat; all eyes on inflation data

BSE Sensex flat; all eyes on inflation data
Reuters Market Eye - The BSE Sensex was flat as technology stocks extended falls after Infosys' revenue outlook disappointed last week, though banking shares gained on rising expectations for a cut in the repo rate on Tuesday.

All eyes will be on the wholesale price inflation data for March, due out around 11:30 am.

WPI is expected to come in at 6.70 percent from a year ago, under the 6.95 percent recorded in February, according to a Reuters survey.

The inflation data will set the mood ahead of the Reserve Bank of India's policy meeting, with analysts widely expecting a 25 basis point cut in the repo rate, though some traders predict the central bank could cut the cash reserve ratio instead.

State Bank of India rose 1.7 percent, while real estate developer DLF gained 1.3 percent.

Those gains were offset by continued falls in software services exporters, with Infosys down 0.4 percent and Tata Consultancy Services down 0.7 percent.

The country's main 30-share BSE index was trading down 0.05 percent, while the 50-share NSE index fell 0.03 percent.

(Reporting by Manoj Dharra; Editing by Rafael Nam)

The BSE Sensex trimmed its losses amid choppy trade, led by support from banks, realty and capital goods stocks. Country's largest lender State Bank of India shot up 2% on hopes that the Reserve Bank of India may cut rates by 25 basis points tomorrow in its monetary policy for FY13.

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The BSE Sensex and NSE Nifty started off trade with 0.4% gap down on first day of the week, tracking negative global cues.

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