Nifty choppy as investors await cues from monetary policy HDFC Bank,

 Tata Motors, TCS, M&M, Wipro and Cipla gained 0.5-1.5 percent while ITC, Infosys, Axis Bank, ICICI Bank, HDFC and L&T were under pressure. Shares of Tata Elxsi, a global design and technology service leader in the broadcast industry, surged 3 percent on a global partnership with M-Star Semiconductor Inc for display and digital home solutions. The company will provide a comprehensive suite of software for MStar’s System-on-a-Chip (SoC) targeted at set-top boxes (STB). Communication service providers, MSOs and OEMs are expected to gain from the partnership, the company said. Earnings estimates: World's largest forging company Bharat Forge's earnings may be subdued in the quarter ended December 2016, following weak performance in previous quarter. Consolidated profit during the quarter is seen falling 19 percent year-on-year to Rs 137 crore and revenue may decline 9.5 percent to Rs 951.7 crore, according to average of estimates of analysts polled  Weak performance in export markets is expected hit revenue.

 Even the company had indicated last quarter that export revenues especially in autos will continue to be sluggish. Headwinds are also expected to continue in domestic commercial vehicle market. Freight demand in commercial vehicle was very weak in the initial phase of demonetisation. RBI is reaching end of easing cycle: Nomura Benchmark indices continued to be listless in noon as investors awaited cues from the RBI monetary policy later in the day. Corporate earnings will also be closed watched. The 30-share BSE Sensex was down 29.96 points at 28305.20 and the 50-share NSE Nifty gained 0.15 points at 8768.45. About 1446 shares advanced against 1112 declining shares on the BSE. Earnings growth this quarter might remain soft, but investors are in the mood to invest and there is palpable optimism around India, said Rashesh Shah of Edelweiss Financial

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