''Indian markets are expected to open flat today on the back of mixed global cues. During the day, the market trend will be largely determined by the outcome of the monetary policy to be announced today,'' said ICICIdirect.

The RBI is expected to maintain status quo in its monetary policy review today, adopting a wait-and-watch stance with respect to monsoons and seeking renewed indication of normalisation in rates by the US FOMC.

Domestic markets ended positive as sentiments remained buoyed after rating agencies predicted the RBI is likely to cut the benchmark rate by 25 bps in its monetary policy review, as inflation is likely to remain subdued on the back of lower commodity price.

US markets ended negative after a report from the Institute for Supply Management showing that activity in the US manufacturing sector unexpectedly grew at a slower rate in July.

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