Sensex and Nifty were trading higher ahead of the Reserve Bank of India (RBI) monetary policy meet outcome. While Sensex rose 117 points to 40,968, Nifty rose 27 points to 12,071. Banking stocks were among the top gainers with BSE bankex rising 113 points to 36,536 against previous close of 36,423. Bank Nifty too was trading 85 points higher at 32,062. Among other gainers, BSE consumer durables index gained 183 points to 25,262.
On Sensex, top gainers were TCS, ICICI Bank and ITC.
Sun Pharma, Bharti Airtel and Tata Motors were the top Sensex losers.
The six-member MPC, which started its three-day deliberations on the policy review on 3 December, will release its resolution on the website of the RBI at 11.45 AM. The MPC is widely expected to slash repo rate by 25 basis points (bps) to 4.9 per cent, while maintaining a dovish stance.
By Aseem Thapliyal