Mumbai, Aug 6 || The Indian equity benchmarks opened flat on Wednesday, ahead of the Reserve Bank of India (RBI) Monetary Policy Committee's decision. Sensex gained 64 points or 0.08 per cent at 80,774 while Nifty edged up 16 points or 0.07 per cent to 24,665.
Broad cap indices saw higher selling pressure. The Nifty midcap 100 index was down 0.54 per cent and Nifty smallcap 100 index slipped 0.64 per cent.
"Today’s monetary policy decision is unlikely to influence the market significantly. The overarching influence on the market will be US Donald Trump’s tantrums," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Among the sectoral indices, the Nifty IT index was the major loser, declining 0.92 per cent. Nifty FMCG lost 0.26 per cent and Nifty Realty declined 0.82 per cent. The Nifty Bank advanced 0.13 per cent.
In the Nifty pack, Bharti Airtel led the gainers, followed by Kotak Mahindra Bank, SBI Life Insurance, Shriram Finance, and Trent. Coal India was the major laggard, down 1.41 per cent. Dr. Reddy’s Laboratories, Cipla, Hero MotoCorp, and Grasim Industries were the other major losers.