Business
The stock markets rose on hopes of a rate cut by RBI at the first bi-monthly monetary policy review on Tuesday
Updated : Mar 21, 2018, 05:28 AM IST
Market benchmark Sensex rose over 132 points in opening trade on Monday on optimistic buying amid hopes of a rate cut by Reserve Bank of India (RBI) and a firm global trend.
The 30-share index, which had lost 72.22 points in the previous session, recovered by 132.46 points or 0.52%, to 25,402.10, with realty, IT, teck, auto, power and capital goods stocks leading the gains.
The NSE Nifty also perked up by 35.00 points or 0.45% to 7,748.05.
Brokers said apart from positive cues from global market, widening of positions by investors and funds on expectations that RBI might lower key interest rates at its first bi-monthly monetary policy review for 2016-17 on Tuesday influenced sentiment.
Among other Asian markets, Japan's Nikkei was up 0.21% in early trade. Indexes in Hong Kong and China are closed on Monday for a public holiday.
The US Dow Jones Industrial Average ended 0.61% higher in Friday's trade.