Rate cut hope: Indian markets open in green

Indian markets opened in green on Tuesday hoping that Reserve Bank of India, under new governor Urjit Patel will cut interest rates by at least 25 basis points. 

At 9.18 am, Sensex was trading at 28,377.64, above 97 points or 0.35%, while Nifty 50 was at 8770, up by 32 points or 0.37%.

Overall the market was positive, as 30-stock index witnessed 26 advances and 4 declines, and that of 50-stock index was with 45 advances and 6 declines.

ONGC was top gainer on BSE, trading at Rs 265.30 per share up by 1.96%, followed by Adani Ports at Rs 269.15 per share, up 1.78%.

Hero MotoCorp was also among top gainers, trading at Rs 3585.95 per share, up by 1.79%. 

Other notable gainers were – Gail India, Tata Steel, Cipla, Reliance Industries and  Tata Motors which were trading positive in the range of 0.90% - 1.25%.

While top losers were – Coal India at Rs 325.05 per share, down by 0.85%, followed by Axis Bank at Rs 548.75 per share (0.40%) and Bharti Airtel at Rs 318.15 per share (0.19%).