Dynamite News Equity indices trade higher ahead of RBI policy meet outcome
Equity benchmark indices were in the positive terrain during early hours on Thursday ahead of a widely expected interest rate cut by the Reserve Bank of India (RBI).
Mumbai: Equity benchmark indices were in the positive terrain during early hours on Thursday ahead of a widely expected interest rate cut by the Reserve Bank of India (RBI).
The central bank is expected to cut rates by 25 basis points later in the day in an effort to reverse the economic slowdown.
At 10:15 am, the BSE S&P Sensex was up by 101 points to 40,952 while the Nifty 50 edged higher by 23 points at 12,066. Except for Nifty metal and pharma, all sectoral indices at the National Stock Exchange were in the positive zone.
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Among stocks, Titan was up by 1.5 per cent while Hero MotoCorp added gains of 1.2 per cent. The other prominent gainers were Zee Entertainment, Tata Consultancy Services, ITC, Eicher Motors and IndianOil Corporation.
However, those which lost were Yes Bank, Bharti Airtel, Coal India and Sun Pharma. Meanwhile, Asian stocks ticked up on signs the United States and China are on track for a preliminary trade deal.
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MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.3 per cent while Japan's Nikkei stock index was up by 0.81 per cent.(ANI)