INDIAN BENCHMARKS opened flat with bank shares leading the gains on hopes that the Reserve Bank of India is likely to maintain status quo on key rates after the sharp fall in consumer price inflation in December. The Consumer Price Inflation for December fell sharply to 9.87% compared with 11.24% in November on account of decline in vegetable prices. Food inflation decreased to 12.16% compared with 14.72 in November.
FUTHER, Shares of Exide Industry lost 2 percent 102.55 with the stock extending Monday's slide triggered by the company reporting poor Q3 earnings. Shares of Coal India rise on expectations of a special dividend.
Trend in FII flows: The FIIs were net buyers of Rs. 413cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 317cr, as per the provisional figures released by the NSE.
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