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Markets trade higher. RBI policy looms over.

The markets have witnessed a positive opening, this trading session, on back of positive global cues. The BSE Sensex is at 16,995, up 118 points and the Niftyis at 5,109, up 46 points.

Markets are expected to, further, react to RBI’s decision to go for another rate hike to tame price pressures in order to boost growth in its monetary review, due today.

Among the sectoral indices, BSE Oil & gas, PSU and IT indices are leading the losses, up nearly a percent each. ONGC, Indian Oil Corp, BPCL and Essar Oil, up 2-6% each, are the major gainers from the oil & Gas pack.

TCS, Patni Computer Systems, Tech Mahindra and HCL Technologies, up 1-2% each, are the major gainers from the IT pack.

Among the Sensex 30 stocks, ONGC had moved up 6% at Rs 275. Other prominent gainers include Tata Motors, TCS, Sterlite Industries and Tata Power, up 2-3% each. On the other hand, Maruti Suzuki, Bharti Airtel, Hindustan Unilever, Bajaj Auto and Hero MotoCorp, down 1-2% each, are the major losers among the Sensex stocks.


 

 

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