Sensex, Nifty Flat Ahead of RBI Policy Review

BSE Sensex and Nifty inched higher ahead of RBI policy review later in the day. The Nifty slipped after hitting its day's high of 7,714.45 in early trade. The Reserve Bank of India is expected to keep interest rates steady while adopting tougher rhetoric on inflation at a policy review due to growing concerns that disappointing monsoon rains will lead to a surge in food prices.