Market opens flat, Nifty hovers around 21,750

Indian markets open flat: The Indian stock market witnessed minimal movement in a muted start, reflecting cautious sentiments among investors after RBI maintained status quo on repo rate at 6.50 per cent on Thursday.

As of 9:33 am, the Nifty was trading around the mark of 21,700, while the Sensex was up and maintained its position above 71,500.

On the Bombay Stock Exchange (BSE), notable losers include Maruti, M&M, and ITC, reflecting a mixed performance across sectors. Conversely, Power Grid, NTPC, and Reliance emerge as early gainers on the BSE, hinting at sectoral variations in the opening trades.

Over on the National Stock Exchange (NSE), Adani Ports, Adani Enterprise, and Reliance lead the gainers' chart, showcasing early strength in these counters. However, ITC, Infosys, and Hindalco are observed as the top losers on the NSE.

Companies including Tata Motors, SML Isuzu will report earnings today.

As of 9:33 am, RVNL experienced a decline of over 4.50 per cent, trading at Rs 268.75 per share after reporting weak December quarter results. On the flip side, Zomato rose 4 per cent following a robust performance, posting a profit of Rs 138 crore compared to a loss of Rs 347 crore in the same quarter last year.

Meanwhile, LIC continues its upward trajectory, bolstered by a strong set of December quarter results. On the other hand, Paytm continues to face a downturn after the RBI provided an explanation for halting Paytm unit’s operations.

In its Monetary Policy Meeting on Thursday, the RBI announced a status quo on the repo rate at 6.50 per cent, marking the sixth consecutive time of unchanged rates.

Key stocks to watch include Zomato, LIC, Biocon, and Tata Power.