Indian stocks climbed at the open on Friday as investors awaited a key interest rate decision by the central bank’s Monetary Policy Committee (MPC).
The benchmark BSE Sensex gained 180 points to hit 69,701 in early trade, while the NSE Nifty 50 rose 66 points to 20,967. Banking and metal stocks led the gains.
The advances come a day after the Sensex shed 132 points and the Nifty dipped 37 points, breaking a recent rally. Broader indexes like the Nifty Midcap 100 and Nifty Microcap 250 rose over 0.5% each.
All eyes are now on the Reserve Bank of India as its monetary panel concludes a two-day policy meeting. Analysts widely expect the MPC to keep the benchmark repo rate unchanged at 6.25% amid easing inflation.
The decision, due later Friday, will guide policy stance as economic growth shows signs of slowing globally while India grapples with inflationary pressures.
In company-specific action, JSW Steel surged over 3% to emerge as the top Nifty gainer in morning deals. The Nifty Metal and Media indexes climbed over 1% each, while Pharma slipped.
On Thursday, the rupee rose 0.04% against the dollar ahead of the RBI decision. Investors will watch for forward guidance when rates are announced as growth-inflation dynamics remain fluid.
