Closing Summary- Market Synopsis- 23 January, 2012

Indian stocks held near a six-week high before the Reserve Bank of India (RBI)'s policy meeting tomorrow. The central bank is widely expected to keep its key lending rate viz. the repo rate steady at the third Quarter Review of Monetary Policy 2011-12 as headline inflation remains high. Reliance Industries Ltd. fell the most in three weeks after disappointing Q3 results. Larsen & Toubro Ltd., the largest engineering company, and Maruti Suzuki India Ltd., the biggest carmaker, erased losses after their earnings report. Sensex, gained less than 0.1% to close at 16,751.73 while S&P CNX Nifty Index decreased 0.05% to close at 5,046.25. The breadth of the market was neutral as one stock advanced against each declining.
(Pic. Source- bseindia.com)