RBI policy review boosts, Sensex up by 107 pts

The BSE benchmark Sensex rose by over 107 points in opening trade on Friday on fresh buying by funds ahead of a Reserve Bank of India monetary policy review scheduled later in the day and a firming trend on other Asian bourses.

The 30-share Sensex, which has lost over 165 points in the past two sessions, recovered by 107.56 points, or 0.68 per cent, to 15,944.03 in opening trade. The wide-based National Stock Exchange Nifty index also moved up by 34.45 points, or 0.73 per cent, to 4,780.80.

Brokers said fresh buying by funds and retail investors on  expectations that the Reserve Bank of India will keep key interest rates unchanged at its policy review this afternoon gave a boost to the trading sentiment.

In addition, a firming trend in other Asian markets following overnight gains in the US on better-than-expected weekly jobs data supported the early rise on the domestic bourses, they said.

In Asia, Hong Kong's Hang Seng Index rose by 0.48 per cent and Japan's Nikkei Index by 0.46 per cent in morning trade today. The US Dow Jones Industrial average ended 0.38 per cent higher in yesterday's trade.

     Mumbai, Dec 16 (PTI)
The BSE benchmark Sensex rose by over 107 points in opening trade on Friday on fresh buying by funds ahead of a Reserve Bank of India monetary policy review scheduled later in the day and a firming trend on other Asian bourses.

The 30-share Sensex, which has lost over 165 points in the past two sessions, recovered by 107.56 points, or 0.68 per cent, to 15,944.03 in opening trade. The wide-based National Stock Exchange Nifty index also moved up by 34.45 points, or 0.73 per cent, to 4,780.80.

Brokers said fresh buying by funds and retail investors on  expectations that the Reserve Bank of India will keep key interest rates unchanged at its policy review this afternoon gave a boost to the trading sentiment.

In addition, a firming trend in other Asian markets following overnight gains in the US on better-than-expected weekly jobs data supported the early rise on the domestic bourses, they said.

In Asia, Hong Kong's Hang Seng Index rose by 0.48 per cent and Japan's Nikkei Index by 0.46 per cent in morning trade today. The US Dow Jones Industrial average ended 0.38 per cent higher in yesterday's trade.