The BSE Sensex was trading 233 points or 0.32% higher at 72,385. Nifty50 was trading at 21,994, up 64 points or 0.29% at around 9.21 am.
The RBI’s rate decision will be announced at 10:00 a.m. IST.
Investors are also waiting to see if the moderation in core inflation and focus on fiscal prudence in the interim budget would enable policymakers to signal a turn in the rate cycle.
From the Sensex pack, Power Grid, HCL Tech, M&M, NTPC, and IndusInd Bank opened higher, while ITC, Maruti, Bajaj Finance, Nestle, and UltraTech Cement opened lower.
Rate-sensitive sectors like banking, finance, and auto traded higher in early trade ahead of the RBI’s policy decision. However, the Nifty Realty index was in the red.Among individual stocks, Lupin surged 7% after the drugmaker reported a higher-than-expected rise in December quarter profit, helped by strong demand in North American and domestic markets.Power Grid Corporation shares rose over 5% after the state-run energy transmission company posted a rise in third-quarter profit, buoyed by strong power demand.
MORE TO COME…
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