The benchmark Sensex was flat in the opening trade, with a negative bias. It was witnessing a volatility after seeing 286 points rally on Friday.
Fall in Asian markets weighed a bit on the benchmarks in early trade. Rate sensitives were witnessing a sell-off ahead of RBI policy tomorrow while telecom stocks were supporting the market.
Reliance Industries gained 1.5% after getting approval for RIL-BP deal from Cabinet on Friday.
Telecommunications stocks gained after India's largest telecom operator hiked tariffs. Reliance Communications and Bharti Airtel gained 1.5-2%. Idea Cellular shot up 4.5% and TTML was up 2.45%.
Bharti Airtel may bid for Zimbabwe Telecom company NetOne.
GAIL rose over 2%.
However, Kotak Mahindra Bank, SBI, HUL, ITC, HDFC, DLF, Tata Motors, Hero Honda, BHEL, Jaiprakash Associates, Tata Power, Grasim, Wipro, ICICI Bank and Tata Steel were putting pressure on the market.
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