Equity Market Rises In Early Trade As RBI Set To Announce Monetary Policy

The Indian equity markets opened higher on June 8 as Reserve Bank of India is all set to announce its monetary policy today. RBI is likely to maintain a status quo on its benchmark repo rate amid easing inflation and steady growth of economy.

The 30-share BSE Sensex opening 36 points higher or 0.06% to 63,179 while NSE Nifty surged 12 points to 18,738 till 9:26 am on Thursday.

From the pack of Sensex, shares of Hero Motocorp, Power Grid Corp, NTPC gained over 1%. Shares of Kotak Mahindra and BPCL declined nearly 1% in morning trade.
Meanwhile, 40 economists in a Bloomberg survey forecast RBI to Reserve Bank of India the repo rate unchanged at 6.50% on Wednesday.

Yesterday, share markets closed ended with the gain of 350 points to 63,146 and managed to reclaim the 63,000 mark. While NSE Nifty jumped 127.4 points to settle at 18,726 on June 7.