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Opening Bell: Sensex up by 280 points, Nifty at 17,886 ahead of RBI MPC decision, TCS results

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The Indian share market opened higher ahead of RBI's monetary policy decision and TCS' quarterly results. At 9:15 am, the Sensex opened 0.47 percent or 282 points higher at 59,960. Nifty50 index opened higher at 17,886 -- up 96 points or 0.54 percent.

Opening Bell: Sensex up by 280 points, Nifty at 17,886 ahead of RBI MPC decision, TCS results
The Indian equity benchmark indices opened higher on Friday ahead of the RBI monetary policy decision and quarterly results of TCS, following positive cues in the global markets.
Reserve Bank of India (RBI) governor Shaktikanta Das is expected to announce the decision on repo rate, reverse repo rate in the meeting at 10 am today.
At 9:15 am, the Sensex opened 0.47 percent or 282 points higher at 59,960. Nifty50 index opened higher at 17,886 - up 96 points or 0.54 percent. The broader market indices were trading higher as well, with both midcaps and smallcaps surging half a percent higher.
Bluechips leading the gains on the Nifty50 index were Tata Steel, Tata Motors, Hindalco, JSW Steel, and Grasim. Each scrip gained over 1-4 percent. Leading the losses were Coal India, Hindutan Unilever, Asian Paints, HDFC, and SBI.
Among sectors, financial services and realty indices were under selling pressure, and banks, auto, IT, media, metal, pharma indices were in the green.
Globally, Asian shares rose as Chinese shares returned from a one week holiday upbeat, tracking a global rally, while investors also eyed key US jobs data for any fresh insight into the timing of Federal Reserve tapering.
MSCI's broadest index of Asia-Pacific shares outside Japan rose half percent and Japan's Nikkei index advanced almost 2 percent. Chinese blue chips gained half a percent as they resumed trading after being closed for the National Day holiday, while Hong Kong, which has been open all week, gained 1 percent.
US futures rose marginally after the Senate approved legislation to temporarily raise the federal government's $28.4 trillion debt limit and avoid the risk of a historic default later this month. Overnight, on Wall Street, the benchmarks closed almost 1 percent higher.
Oil prices continued to be volatile. As both the benchmarks gained over half a percent with Brent crude at $ 82.44 a barrel and US crude at $78.90 a barrel.
(With inputs from Reuters)
 
 
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