Early on D-Street | Critical support for Nifty at 12,006

Indian market witnessed profit booking decline for the second consecutive day in a row on Monday. Both Sensex and Nifty closed flat.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 8 points to 40,802 while the Nifty50 closed 7 points lower at 12,048 on Monday.

Sectorally, the action was seen in telecom, energy, and metals while profit booking was seen in auto, IT, and healthcare stocks.

The broader markets underperformed as the S&P BSE Mid-cap index fell 0.77 percent while the S&P BSE Small-cap index was down 0.39 percent.

Weak Q2 GDP data which hit a 6-year low and subdued auto sales numbers is likely to impact the investor sentiments in the short-term, but investors pinned hopes for a rate cut by the Reserve Bank of India (RBI).

The Monetary Policy Committee (MPC) will cut interest rates for the sixth straight time on December 5 to support growth that has continued to slip to more than six-year low, suggest experts.