Taking Stock: Rate cut hopes help market cut losses; Sensex, Nifty close flat

The Indian market consolidated in a narrow range but dips were mostly bought into as sentiment remained upbeat in anticipation of another 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.