Markets open higher tracking positive global cues; Yes Bank slips 3.5%

Equity benchmark indices opened higher on Friday tracking global cues. The Sensex is up 114 points at 40,881, and the Nifty also up 26 points at 12,044. About 941 shares have advanced, 505 shares declined, and 609 shares are unchanged.

Infratel, JSW Steel, Tata Steel and Grasim are among the top gainers, while losers include Yes Bank, ONGC, UPL and SBI.

The Indian rupee opened flat at 71.26 per dollar vs. previous close 71.29/$.

On the economy front, the RBI kept the repo rates unchanged. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth while ensuring that inflation remains within the target. These decisions are in consonance to achieve the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/-2% while supporting growth.

Besides, the foreign portfolio investors (FPIs) bought shares worth a net Rs653.36cr and domestic institutional investors (DIIs) sold shares worth a net Rs410.49cr, as per provisional data.

Meanwhile, Asian stocks gain ahead of the US job market and an impending scheduled American tariff hike on Chinese goods.

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