Sensex, Nifty flat ahead of MPC results

Mumbai, Aug 7: Sensex and Nifty on Wednesday traded on a flat note ahead of the Reserve Bank of India (RBI) policy rates announcement later in the day.

The RBI is widely expected to go for a 25 basis points rate cut amid a widespread slowdown in the Indian economy. Except for metal stocks most other sectoral indices traded in the green.

The benchmark Sensex opened at 37,025.27, higher from its Tuesday's close of 36,976.85.

At 9.49 a.m., the Sensex traded 73 points higher at 37,049.85. The broader Nifty also traded 15.70 points higher at 10,963.95.

Meanwhile, Foreign Portfolio Investors (FPIs) continued to sell Indian stocks.A On Monday, FPIs offloaded stocks worth Rs 2,107.93 crore.