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Sensex ends flat as rate-cut hopes offset earnings disappointment

Reuters
Newly recruited employees attend a training session inside Tech Mahindra office building in Noida on the outskirts of New Delhi March 18, 2013. REUTERS/Adnan Abidi/Files

MUMBAI (Reuters) - The Nifty ended little-changed on Wednesday as gains in banking stocks on expectations of a rate cut offset a fall in shares of Tata Motors.

The Nifty closed down 0.06 percent, while the benchmark Sensex ended up 0.12 percent.

Axis Bank Ltd (AXBK.NS) rose 2.4 percent, while ICICI Bank Ltd (ICBK.NS) and HDFC Bank Ltd (HDBK.NS) both closed up 1.1 percent.

The Reserve Bank of India is likely to cut its benchmark interest rate by 25 basis points to 7.25 percent when it meets early next week and make a similar move before December, according to a Reuters poll.

However, Tata Motors fell 5.2 percent after a surprise drop in its bottomline.

Tech Mahindra was the biggest loser on the NSE index, dropping 14.2 percent after reporting a lower profit.

(Reporting by Himank Sharma; Editing by Prateek Chatterjee)