For the second consecutive day on Friday, the Indian stock market has opened in green as investors looked beyond domestic factors to focus on positive global sentiment. In early trade, the BSE gauge Sensex moved 103.13 points higher to trade at 40,882.72 in opening deals. Similarly, the NSE barometer Nifty added 22.50 points to 12,040.90.
According to the reports, Tata Steel, Vedanta, and ICICI Bank were the top gainers in the Sensex pack. However, YES Bank was the top loser. On the other hand, in the Nifty pack, the Nifty Metal index gained the most while the Nifty IT index was down. In the broader market, the S&P BSE MidCap index the S&P BSE MidCap index was up 30 points, or 0.21 per cent, and the S&P BSE SmallCap index was up 34 points, or 0.25 per cent.
Meanwhile, on the currency front, the Indian Rupee opened on a steady note at 71.30 against the US dollar in early trade. On Thursday, the 30-share BSE index ended lower by 70.70 points or 0.17 per cent. The index swung between losses and gains after the Reserve Bank of India (RBI) kept the key policy rates unchanged. The Nifty settled the day with a loss of 24.80 points or 0.21 per cent at 12,018.40.
It is worth mentioning here that RBI unexpectedly kept the benchmark interest rate unchanged at 5.15 per cent and reverse repo rate at 4.90 per cent on concerns of headline inflation breaching its medium-term target. However, the RBI promised to continue with its accommodative stance in its monetary policy.