The outcome of the MPC meeting will be announced on Friday, June 6, at 10 AM.
Indian Stock Markets Open Higher Amid Hopes of India-U.S. Trade Deal and RBI Rate Cut
The Indian stock market indices opened higher on Thursday, ANI reported.
Market experts believe that investor sentiment is buoyed by optimism surrounding potential developments in the India-U.S. trade deal and expectations of a rate cut by the Reserve Bank of India's (RBI) Monetary Policy Committee.
At the opening of the trading session, the Sensex was up 26.22 points, or 0.03 percent, at 81,024.47, while the Nifty 50 rose 8.65 points, or 0.04 percent, to 24,628.85.
All sectoral indices on the NSE opened in the green. On the BSE, the Midcap index was up 0.3 percent, and the Smallcap index gained 0.6 percent.
The RBI’s Monetary Policy Committee began its three-day meeting on Tuesday, June 3, to deliberate on the monetary policy. Experts anticipate that the central bank may cut the repo rate by 25 basis points, while some are even expecting a sharper 50 basis points cut. The outcome of the MPC meeting will be announced on Friday, June 6, at 10 AM.
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