Market benchmark BSE Sensex rose over 64 points in the opening trade today as investors widened positions ahead of the Reserve Bank’s monetary policy meet amid a mixed trend overseas.
The 30-share index, which had lost 45.86 points in the previous session, recovered by 64.43 points, or 0.25 per cent, to 24,889.26, with consumer durables, banking, healthcare, auto, teck, IT, realty and capital goods stocks leading the recovery.
The NSE Nifty also surged by 12.25 points, or 0.16 per cent, at 7,568.20.
Brokers said besides a mixed trend at other Asian bourses, selective buying by funds and retail investors ahead of RBI’s monetary policy to be announced later in the day, influenced the sentiment.
Among other Asian markets, Shanghai Composite Index rose 2.18 per cent, while Japan’s Nikkei was down 0.10 per cent in early trade. Hong Kong’s Hang Seng index shed 0.16 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.10 per cent lower in yesterday’s trade.
The rupee edged higher by 6 paise to 67.78 against the dollar in early trade today on fresh selling of the American currency by exporters and banks ahead of the RBI policy meet.
Forex dealers said weakness in the dollar against other currencies overseas also supported the rupee.
Further, a higher opening in the domestic equity market influenced the uptrend, they added.
Yesterday, the local currency ended six paise lower at 67.84 on fag-end dollar demand from banks and importers.
Meanwhile, the benchmark BSE Sensex was trading 64.43 points or 0.25 per cent higher, at 24,889.26 in early trade.