The shares are listed on the upside in the opening of agreements before the RBI political decision
MUMBAI: India's stock market rose Thursday in the opening agreements, aided by hopes of a rate cut by the Reserve Bank later in the day and the possibility of a trade agreement between the United States and China before speculation.
The RBI will announce its monetary policy decision at 1145 hours, followed by a press conference.
BSE of 30 shares sensex it traded up 84.17 points to 40,934.46 to open deals; while the broader NSE NSE 50 of 50 shares rose 21.95 points to 12,065.15.
The sensex gains were driven by heavyweight Reliance Industries, followed by automakers like Heromoto Corp and Tata Motors.
On the other hand, telecommunications and IT shares were traded in red numbers.
Asian markets were slightly higher with the hope that the US UU. And China could sign a preliminary trade agreement, although uncertainties still remained intact due to almost daily changes in the prospects for early talks.
On Wednesday, the sensex closed at 40,850.29, up by 174.84 points or 0.43 per cent over the previous close.
The Nifty increased 43.10 points or 0.36 percent to finish at 12,037.30.
Meanwhile, the Indian rupee was trading flat at 71.53 at the opening of agreements.
Foreign investors sold shares worth Rs 781.06 million on Wednesday, exchange data showed.