Stock Markets Climb in Early Trade Ahead of RBI's Monetary Policy Decision

• Tech Mahindra, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Eternal and Adani Ports were among the biggest gainers.

• Tata Steel, Trent, InterGlobe Aviation and Reliance Industries were among the laggards.

• FIIs offloaded equities worth ₹4,447.06 crore on Thursday.

Stock market benchmark indices Sensex and Nifty traded higher in early deals on Friday ahead of the RBI's monetary policy decision.

The 30-share BSE Sensex climbed 269.93 points to 74,629.94 in opening trade. The 50-share NSE Nifty went up by 62.4 points to 23,478.95.

From the 30-Sensex firms, Tech Mahindra, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Eternal and Adani Ports were among the biggest gainers.

Tata Steel, Trent, InterGlobe Aviation and Reliance Industries were among the laggards.

Brent crude, the global oil benchmark, traded at around $95.40 per barrel.

"There are some mild positive indications for the market today. There are signs of weakness in the AI trade in the US, South Korea and Taiwan and rotation away from tech stocks, but it is too early to say whether this will sustain. The focus of the market today will be on the monetary policy and the message from the RBI Governor," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Hong Kong's Hang Seng index traded significantly lower, while Shanghai's SSE Composite index quoted in positive territory.

US markets ended mostly higher on Thursday.

"Global markets offered a contrasting picture overnight. While the Dow Jones surged nearly 900 points to a fresh record high, the rally was largely driven by a rotation away from technology stocks into broader cyclical sectors.

"Asian markets, however, failed to mirror Wall Street's optimism, with South Korea's Kospi declining nearly 5% and other regional indices trading under pressure amid concerns over escalating tensions in the Middle East," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,447.06 crore on Thursday, according to exchange data.

On Thursday, the Sensex went up marginally by 13.84 points, or 0.02%, to settle at 74,360.01. The Nifty eked out a marginal gain of 10.95 points, or 0.05%, to end at 23,416.55.