Stock Markets Open: Sensex Climbs Nearly 200 Points, Nifty Trading Above 20,950 Ahead Of RBI MPC

In the broader markets, indices mostly were trading in green. The Nifty Microcap 250 led with an increase of 0.85 per cent, followed by the Nifty Midcap 50 and Nifty Midcap 100 indices.

Sectorally, Nifty Pharma remained the only laggard in the list with losses of 0.03 per cent. Among the gainers, the Nifty Media and Metal indices dominated, with increases of 1.75 per cent and 1.27 per cent respectively. 

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The two key equity benchmarks, Sensex and Nifty, on Friday, opened markets on positive note after slipping marginally in the previous day. The BSE Sensex gained 120.72 points to reach 69,642.41 in early trade, while the NSE Nifty50 stood at 20,947.20, up by 46 points.

On the 30-share Sensex platform, JSW Steel,NTPC, HCL Tech, PowerGrid, and IndusInd Bank emerged among some of the early gainers. While, Bajaj Finance, SBI, TCS, Maruti, and Bharti Airtel were among the losers in morning trade. 

In the broader markets, indices mostly were trading in green. The Nifty Microcap 250 led with an increase of 0.85 per cent, followed by the Nifty Midcap 50 and Nifty Midcap 100 indices.

Sectorally, Nifty Pharma remained the only laggard in the list with losses of 0.03 per cent. Among the gainers, the Nifty Media and Metal indices dominated, with increases of 1.75 per cent and 1.27 per cent respectively. 

#ABPStockMarketWatch | Sensex Climbs More Than 200 Points, Nifty Trading Above 20,950 Ahead Of RBI MPC

At 10:10 AM, #Sensex gained 294 points to 69,771 & #Nifty 76 points to 20,976

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/zLnXctNQ1d

— ABP LIVE (@abplive) December 8, 2023

As of 9:43 AM, the Sensex was trading up by around 180 points at 69,701.04, while the Nifty climbed 66 points to reach 20,967.25. 

Among specific stocks on the NSE, JSW Steel emerged as the prime gainer and was trading up by more than 3 per cent in the morning. 

In the previous session on Thursday, the equity benchmarks, Sensex and Nifty, broke away from their rally and settled with some losses as trading ended. The BSE Sensex fell about 132 points to close at 69,521.69, while the NSE Nifty50 just about managed to stay above 20,900 and slipped 37 points to settle at 20,901.15 as the markets closed for the day.

The domestic rupee appreciated 3 paise to hit 83.33 against the US dollar in early trade. 

Investors are keenly on the lookout for the Reserve Bank of India's bi-monthly review meeting. The RBI's Monetary Policy Committee (MPC) began its two day monetary policy review meet on Wednesday and is set to announce the decision taken regarding the interest rates today. The committee is being headed by RBI Governor Shaktikanta Das. Analysts expect the regulator to maintain the pause on the repo rate.