The Indian equity markets traded on a flat note during the mid - afternoon session on Wednesday as investors were cautious ahead of the outcome of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meet due later in the day.
However, a better - than - expected monsoon forecast by the India Meteorological Department (IMD), coupled with healthy buying in healthcare, consumer durables and automobile sectors, kept market sentiments buoyed.
At 12. 45 p. m. , the Nifty of the National Stock Exchange (NSE) traded flat at 9, 636. 75 points.
The 30 - scrip Sensitive Index (Sensex) of the BSE, which opened at 31, 252. 71 points, traded at 31, 199. 28 points - - up a mere 8. 72 points or 0. 03 per cent from its previous close at 31, 190. 56 points.
It touched a high of 31, 346. 99 points and a low of 31, 178. 77 points during intra - day trade.
The BSE market breadth was bullish - - with 1, 376 advances and 1, 064 declines.
"The IMD revised upward its initial monsoon forecast and said it is likely to be better than expected earlier, which investors cheered, " Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
"Auto, FMCG and healthcare stocks shone, whereas IT sector traded in negative after yesterday's positive movement. "
On Tuesday, the key equity indices slipped from their fresh intra - day highs and closed in the red on the back of profit - booking and negative global cues.
The NSE Nifty crossed the 9, 700 mark for the first time to touch a intra - day new high of 9, 709. 30 points.
The BSE Sensex, too, touched a fresh intra - day high of 31, 430. 32 points.
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