Indian benchmark indices opened marginally higher as the Asian stocks inched higher ahead of several major political and economic events later this week. The major economic event due today is the bi-monthly monetary policy of the Reserve Bank of India which is expected to come around 02:30 pm.
The 30-share barometer gained 62.15 points or 0.19% at 31,252.71 points while the broader Nifty 50 rose 26.8 points or 0.28% to 9,663.95 points.
Here are the live updates:
09:50 am: The rupee was trading lower by 8 paise at 64.51 against the US dollar in early trade today at the forex market amid caution ahead of the RBI’s bi-monthly policy meet outcome due later in the day. The increased demand for the US currency from importers as also the greenback’s gains against rivals overseas put pressure on the rupee.
09:35 am: The Met Department yesterday revised upward its initial monsoon forecast and said it is likely to be better than earlier expected. The Shares of GAIL, Bharti Airtel, ICICI Bank, SBI, Hero MotoCorp, M&M, Bajaj Auto and Tata Steel were trading in positive zone with gains of up to 0.93%.
09:15 am: Indian markets opened slightly higher today with BSE Sensex up 0.19% at 31,252.71 points while NSE Nifty up 0.28% to 9,663.95 points. The shares of Bharti Airtel, Yes Bank, Vedanta are in focus today. The main event to watch is the RBI’s monetary policy statement which is driving the sentiments of investors.