Sensex, Nifty Start on Positive Note Ahead of RBI Review

Equity benchmarks Sensex and Nifty began trading on Friday in the positive territory ahead of the Reserve Bank’s policy outcome.

After opening on a flat note, the 30-share BSE index was trading 59.24 points or 0.11 per cent higher at 52,291.67 in initial deals, and the broader NSE Nifty advanced 16.85 points or 0.11 per cent to 15,707.20.

ONGC was the top gainer in the Sensex pack, rising over 1 per cent, followed by L&T, IndusInd Bank, Axis Bank, M&M, Bajaj Finance and HDFC. On the other hand, Nestle India, Dr Reddy’s, HUL, Titan and ITC were among the laggards.

In the previous session, Sensex settled 382.95 points or 0.70 per cent higher at record 52,232.43, and Nifty soared 114.15 points or 0.73 per cent to end at its lifetime peak of 15,690.35. Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth 1,079.20 crore on Thursday, as per provisional exchange data.

According to analysts, all eyes would be on RBI monetary policy, wherein the majority expect a status quo on key rates. However, commentary on growth and inflation would be closely watched by market participants.

Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red in mid-session deals, while Tokyo and Seoul were trading with gains.

Equities on Wall Street closed with losses in the overnight session. International oil benchmark Brent crude was trading 0.11 per cent lower at $71.23 per barrel.