The Indian market opened in the green ahead of RBI's policy meet outcome. The central bank is likely to go for the fifth consecutive rate cut. Yes Bank, IndusInd Bank, ONGC and State Bank of India were among the top gainers in the Sensex index.
Equity benchmarks Sensex and Nifty traded with healthy gains, supported by bank, financial and IT heavyweights. Yes Bank shares jumped 5 percent, followed by IndusInd Bank, State Bank of India and HDFC, each trading higher by over a percent.
The hopes of a rate cut by the Reserve Bank of India is keeping the Indian market aloft. Around 0935 hours, the 30-share Sensex was 210 points up at 38,317, while the Nifty index was 53 points up at 11,367.
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