Equity indices open higher ahead of monetary policy announcement

Ahead of the key monetary policy announcement by the Reserve Bank of India, the Indian equity indices opened on a positive note on Thursday.

Investors expect the sixth consecutive rate cut by the monetary policy committee in the announcement scheduled later in the day, and a cut in line with expectation will boost the markets, analysts said.

At 9.26 a.m, the BSE Sensex was trading at 40,939.26, higher by 88.97 points or 0.22 per cent from the previous close of 40,850.29 points.

It had opened at 40,988.14 and has so far touched an intra-day high of 41,002.41 and a low of 40,908.74.

The Nifty50 on the National Stock Exchange traded at 12,067.95, higher by 24.75 points or 0.21 per cent from its previous close.

Further, development on the US-China trade front would also impact the Indian equity market, analysts said. IANS