Mumbai, May 2 (IANS): There was nervousness among traders at Indian equities markets Monday ahead of the monetary policy review by the Reserve Bank of India (RBI) May 3. A benchmark index continued to trade tepid around noon. Broader indices too in the red.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,224.05 points, was ruling at 19,094.46 points, down 41.5 points or 0.22 percent from its previous close at 19,135.96 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lacklustre at 5,732 points, down 0.3 percent.

Broader markets were ruling in the red as well with the BSE midcap index down 0.47 percent and the BSE small cap index down 0.44 percent.

Banking, PSU and metals stocks were in the red, while realty stocks were among top gainers.

The view largely among analysts is that the Reserve Bank of India will go in for another round of tightening given the high inflation. It has already hiked key interest rates eight times in a little over a year.

The market breadth was negative with 1,059 stocks advancing, 1,458 on the decline and 101 remaining unchanged.

There was not much action on the Asian markets with some major bourses closed.

The Japanese Nikkei was ruling 1.57 percent up at 10,004.2 points.

Chinese and Hong Kong stock exchanges were closed on account of a holiday.