Markets open with gains as investors expect RBI MPC meeting outcome
Feb 08, 2023
Mumbai (Maharashtra) [India], February 8 : Domestic markets opened with gains on Wednesday morning as investors expected a good outcome from the meeting of the Monetary Policy Committee of the Reserve Bank of India. The strong Asian market cues are also one of the factors which kept the investors' hopes up in morning trade.
Key indices BSE Sensex went up 357 points to 60,643.78 while Nifty50 surged 115 points to 17,837.15.
Some of the active stocks that went up were Adani Enterprises, Adani Ports, Kiri Industries, Adani Transmission and Lloyd Steel in morning trade on Wednesday. Some of the laggards were Adani Total Gas, Yasho Industries, Bharat Dynamics and Mold-Tek Packaging.
RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Monday amid expectations of a smaller 25 basis points rate increase or a pause on the rate hiking spree that started in May last year to check inflation. The decision of the six-member rate setting panel will be announced by the Governor today.
In its December monetary policy committee meeting, the RBI raised the policy repo rate by 35 basis points (bps) to 6.25 per cent.
In Asian markets, Japan's Nikkei was trading 165 points down, Hong Kong's Hang Seng surged 29 points, China's Shanghai was trading in the green while S and P was up 23 points during the early trading of Wednesday.
In American markets, Dow Jones surged 265 points, Nasdaq was also up 226 points, SandP surged 52 points while NYSE surged 126 points on Wednesday morning.
In European markets, CAC was trading in the green, Deutsche Borse declined 25 points, FTSE was trading in the red and Amsterdam Exchange was trading in the green while Asian markets opened on Wednesday morning.
