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Indian Indices: Indian equity benchmarks continued to trade sluggish in late afternoon session as investors remained on the sidelines ahead of the Reserve Bank of India's policy meeting due tomorrow. The RBI is expected to conduct its sixth and final bi-monthly monetary policy review of the current fiscal on February 7-8, 2017. Profit booking coupled with mixed global cues and a weak rupee, pulled the markets lower. Sentiments also remained downbeat with Commerce Minister NirmalaSitharaman’s statement that the proposed changes in the regime for issuing H-1B visas for skilled workers by the US government will have an impact on Indian companies and the Commerce Ministry will soon hold a meeting with the industry to discuss its strategy for dealing with it.Further, agency noted that under the new guidelines, three of the 21 state-run banks-- Central Bank of India, Indian Overseas Bank and United Bank of India will have positive reserves, who had negative distributable reserves under the earlier guidelines. Further it said that banks are required to appropriate 25% of their annual net profits towards statutory reserve.

The BSE Sensex is currently closed at 28364.83, down by 104.12 points or 0.37% after trading in a range of 28334.61 and 28483.41. There were 10 stocks advancing against 20 stocks declining on the index.The broader indices were trading mixed; the BSE Mid cap index was down by 0.02%, while Small cap index was up by 0.21%.

The CNX Nifty is currently shut down at 8768.30, down by 32.75 points or 0.37% after trading in a range of 8770.10 and 8809.30. There were 16 stocks advancing against 35 stocks declining on the index.

Crporate Front: Mutual fund industry's asset base rose to all-time high of Rs 17.37 lakh crore at the end of January primarily on account of strong inflows in equity, income and money market segments, reported PTI.

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Macroeconomic front:

The Central Board of Direct Taxes (CBDT) has entered into four unilateral Advance Pricing Agreements (APAs) pertaining to the manufacturing, financial and information technology sectors. Four APAs were signed on Monday. The international transactions covered in these agreements include contract manufacturing, IT-enabled services and software development services," the Finance Ministry said in a statement here.

On the global front:

On the global front, European markets were trading mostly in green with some encouraging company updates and gains in healthcare stocks helping to counter weakness in oil majors and eurozone banks. However, Asian markets were trading in red as economic and political uncertainty gripped global markets.

Commodity Updates:

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Consumer Durables up by 0.54%, Capital Goods up by 0.51%, Power up by 0.50%, Bankex up by 0.14% and PSU up by 0.10%, while Metal down by 0.96%, Auto down by 0.84%, TECK down by 0.24%, IT down by 0.24% and Oil & Gas down by 0.15% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Kotak Mahindra Bank up by 2.05%, BPCL up by 1.85%, BHEL up by 1.63%, Bank of Baroda up by 1.38% and BhartiInfratel up by 1.30%. On the flip side, Tata Motors - DVR down by 3.04%, Coal India down by 3.03%, Tata Motors down by 2.58%, ONGC down by 1.88% and Hindalco down by 1.58% were the top losers.

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 65.93 points or 0.35% to 18,910.78, Hang Seng decreased 16.67 points or 0.07% to 23,331.57, Jakarta Composite decreased 12.33 points or 0.23% to 5,383.67, Shanghai Composite decreased 3.9 points or 0.12% to 3,153.09, FTSE Bursa Malaysia KLCI decreased 2.47 points or 0.15% to 1,688.77 and KOSPI Index decreased 2.45 points or 0.12% to 2,075.21. On the flip side, Taiwan Weighted increased 16.55 points or 0.17% to 9,554.56.

European markets were trading mostly in green; Germany’s DAX increased 11.25 points or 0.1% to 11,521.09 and UK’s FTSE 100 increased 15.92 points or 0.22% to 7,188.07. On the flip side, France’s CAC decreased 1.48 points or 0.03% to 4,776.60.