Sensex rises 58 points in early trade ahead of RBI policy

Mumbai: Market benchmark BSE Sensex rose over 58 points in opening trade today on optimistic buying ahead of RBI monetary policy review tomorrow amid increased foreign fund inflows and mixed Asian cues.

Besides, strengthening of rupee by 37 paise against the dollar to 66.88, boosted the uptrend.

The 30-share index, which had lost 0.11 point in the choppy session on Friday, recovered by 58.39 points or 0.21 per cent, to 26,901.42, with realty, capital goods, consumer durables, banking and auto sector stocks leading the gains. The NSE Nifty also perked up by 13.65 points or 0.17 per cent to 8,234.45.

Brokers said widening of positions by investors and funds ahead before RBI’s bi-monthly monetary policy review tomorrow and increased foreign fund inflows, influenced the sentiment.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.11 per cent, while Shanghai Composite Index rose 2.31 points in cautious opening trade. Japan’s Nikkei was, however, 0.85 per cent down.

The US Dow Jones Industrial Average ended 0.18 per cent lower in Friday’s trade.