(Reuters) -India’s benchmark indexes opened higher, led by financials which gained after the Reserve Bank of India announced a slew of measures to boost liquidity in the banking system.
The Nifty 50 rose 0.45% to 22,930.75 points as of 9:17 a.m. IST, while the BSE Sensex added 0.51% to 75,759.6.
Eleven of the 13 sectors advanced at the open.
High weightage financials rose 1%, while state-owned lenders gained 2.3%.
The central bank’s measures to inject liquidity include bond purchases and dollar/rupee swaps, which analysts and traders said could be a precursor to a rate cut next month.
“This can ease liquidity and rates, and hence is a positive for banks and non-bank lenders,” said Jefferies.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.