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HomeNEWSPUNJABSensex Gains 200 pts, Nifty Above 17,750 Ahead of RBI Policy Outcome

Sensex Gains 200 pts, Nifty Above 17,750 Ahead of RBI Policy Outcome

Last Updated: February 08, 2023, 09:28 IST

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

Indian benchmark indices opened higher as investors awaited the Reserve Bank of India’s interest rate decision

Indian benchmark indices opened higher as investors awaited the Reserve Bank of India’s interest rate decision. Experts widely anticipate the RBI’s monetary policy committee to raise repo rates by 25 basis points to 6.5 per cent.

The BSE Sensex started 200 points higher at 60,494 , while the NSE Nifty gained 67 points to reach 17,788 level.

Ultratech Cement, HCL Tech, Infosys, TCS, Wipro, Axis Bank, Bajaj twins and SBI were the top Sensex winners that gained up to 1 per cent, while Adani Ports, Adani Enterprises and SBI life led gains on the Nifty.

On the flip side, Bharti Airtel, Hero Moto, Cipla, Eicher Motors and Maruti were the top drags, down up to 2 per cent.

The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.4 per cent higher.

Global Cues

US stocks rallied to a convincingly higher close on Tuesday, but trade was choppy as investors digested comments from Federal Reserve Chair Jerome Powell about how long the central bank may need to tame inflation.

Tokyo’s key Nikkei index drifted lower a few minutes after Wednesday’s open as tailwinds from Wall Street rallies were offset by a higher yen against the dollar.

Asian equities rose, while the dollar wobbled on Wednesday after less hawkish than feared comments from Federal Reserve Chair Jerome Powell boosted risk appetite and investor hopes that the central bank may soon ease monetary policy.

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