Benchmark equity indices edge up in early deals

Mumbai: Equity benchmarks Sensex and Nifty nudged higher in opening deals on Friday as investors looked beyond domestic factors to focus on positive global sentiment.

The BSE gauge Sensex moved 103.13 points higher to trade at 40,882.72 in opening deals; while the NSE barometer Nifty added 22.50 points to 12,040.90.

On Thursday, the 30-share BSE index ended lower by 70.70 points or 0.17 per cent. The index swung between losses and gains after the Reserve Bank of India (RBI) kept the key policy rates unchanged.

The Nifty settled the day with a loss of 24.80 points or 0.21 per cent at 12,018.40. Meanwhile, the rupee was trading flat in opening trade on Friday.

On Thursday, The RBI unexpectedly kept benchmark interest rate unchanged at 5.15 per cent and reverse repo rate at 4.90 per cent on concerns of headline inflation breaching its medium-term target.

However, the RBI promised to continue with its accommodative stance in its monetary policy.

Asian stocks were trading higher on Friday as investors hoped US-China trade talks would move in right direction after positive signals from American President Donald Trump.

Free Press Journal