D-Street Opens Flat Ahead Of RBI Policy Outcome

The Indian equity markets opened flat with a positive bias on Friday, June 4 ahead of the RBI Monetary Policy outcome wherein the central bank is likely to keep the rates unchanged, as per experts.

"RBI’s MPC meeting would be key monitorable, where the officials are expected to maintain their accommodative stance but the outlook on growth and inflation would be keenly eyed, given the impact of 2nd wave of COVID," said Siddhartha Khemka of Motilal Oswal Financial Services.

The BSE Sensex opened up by 5.01 points at 52,237.44, while the Nifty-50 index was up by 0.90 points at 15,691.30. In the 30-share Sensex, 18 scrips kicked off with gains, while 12 stocks started the day in the red territory.

ONGC continued to be the top gainer for the second consecutive session as the stock surged over three per cent in the morning trade on Friday. L&T and Tech Mahindra were other top gainers of the Sensex gaining over a per cent each.

Among the individuals, shares of PNB Housing Finance clocked a 10 per cent upper circuit at market opening on Friday. The stock has jumped over 100 per cent in the quarterly period after breaking the band of Rs 435, said experts.

The overall market sentiment is however positive and the trend is likely to be continued as the Covid-19 tally decreases and with further increase in the vaccination programme. Further, the Foreign Investors getting back in the game has turned out to be a big positive in the past few sessions, said experts.

FIIs (Foreign institutional investors) net purchased shares worth Rs 1,079.20 crore, and DIIs (domestic institutional investors) net sold shares worth Rs 278.97 crore in the Indian equity market on June 3, as per provisional data available on the exchanges.

In the overall market breadth at the opening, around 1242 shares posted gains, 335 shares declined, and 69 shares were unchanged.