Stock markets opened in the green on Friday as investors looked for relief from a slowdown in economic growth as the Reserve Bank of India (RBI) announced its monetary policy decision.
While the NSE Nifty 50 opened 0.09 percent higher at 24,729.45 points, the BSE Sensex opened 0.15 percent higher at 81,887.54 points.
12 out of 13 major sectors have been leveraged in the open. Broader, more domestically focused smallcaps and midcaps each rose about 0.2%.
Both the Nifty 50 and the Sensex had their five-session rally till Thursday, rising around 3.3 percent.
The RBI may cut the cash reserve ratio (CRR) after surprisingly low gross domestic product (GDP) growth fell to a seven-quarter low of 5.4 percent in the July-September 2024 quarter. A reduction in the CRR would signal that the RBI is willing to ease monetary policy without cutting the repo rate.
However, analysts believe that the repo rate – the rate at which the RBI lends to other banks – is likely to remain unchanged at 6.5 percent.