Sensex trades flat, Nifty hovers around 9,650 ahead of RBI policy meet

The benchmark indices were trading flat with negative bias on Monday as investors stayed cautious ahead of the Reserve Bank of India (RBI)'s monetary policy meet which begins tomorrow, while investors also took cues from the GST Council on saturday clearing the pending rules and deciding the rates of tax and cess on the remaining items. At 9:56 am, the S&P BSE Sensex was trading at 31,243, down 30 points, while the broader Nifty50 was ruling at 9,657, up 3 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices outperformed by rising 0.4% and 0.3%, respectively. "Oscillators suggest that the trend is a bit tired, but there are not enough signs that a major fall is in order. However, 9,640 may be threatened, a break of which, though may only spark volatility, could attract bargain hunting, and prepare a platform for the next swing higher. Alternatively, dirct fall below 9,530/9,500 could however, alter the positive expectations," said brokerage Geojit Financial Services in a technical note. Financial Astrology Tips