Sensex, Nifty gain marginally ahead of RBI policy meeting
The S&P BSE Sensex had increased by 0.16% to 75,218 points, and the NSE Nifty50 had risen by 0.27% to 22,879 points.
Benchmark stock market indices opened slightly higher on Friday, ahead of the Reserve Bank of India’s (RBI) policy meeting, where it is anticipated that interest rates will remain unchanged.
The S&P BSE Sensex had increased by 0.16% to 75,218 points, and the NSE Nifty50 had risen by 0.27% to 22,879 points, by 9:22 AM.
The Nifty has gained 4.3% over the past two sessions, rebounding from a huge drop on Tuesday following the BJP-led NDA’s narrower-than-expected victory in the general elections.
The RBI is widely expected to maintain current interest rates and continue its tight monetary policy.
Financial stocks saw a modest rise of 0.11%, while banking stocks were up 0.14%.
IT stocks surged 2.1%, driven by anticipation of the US non-farm payrolls report, due later today, which could impact US interest rate trends, an important factor for IT companies.