Opening bell: Breaking the losing streak, Sensex and Nifty trade higher ahead of RBI MPC meeting outcome

Asian markets were trading slightly higher on Friday.

Asian markets were trading slightly higher on Friday. BSE Telecom, metal, and energy are bullish in the morning session. Selling was seen by foreign portfolio investors (FPIs) worth Rs 5,009.62 crore while in domestic institutional investors (DIIs), buying was seen at Rs 1,774.70 crore in the Indian markets on April 07. Crude oil is trading at $95.64 per barrel. The rupee has depreciated this morning and is trading at 75.98 against the dollar.   

BSE Sensex moved upwards by 54 points and is trading at 59,089.54 levels. BSE Midcap also moved upwards by 162 points and is trading at 25,231.61. BSE Smallcap soared 214 points and is trading at 29,689.41 levels. The stocks trading in the green on BSE Sensex are Titan, Tata Steel, Reliance Industries, Wipro, and Infosys.   

Nifty 50 index, after ending in red on Thursday, opened on a positive note today i.e. up by 32 points, and is now trading at 17,672.05 levels. Bank Nifty is also trading higher merely by 14 points at 37,571.60 levels. The gainers on Nifty 50 are Coal India, JSW Steel, Hindalco Industries, Tata Steel, and Tata Consumer Products.  

The market outlook is positive as out of 2,473 stocks traded, the numbers of stocks that have advanced are 1,933 while 476 stocks declined in the morning session. Around 151 stocks are locked up in the upper circuit and 65 stocks got locked in their lower circuits today. There are 87 stocks that are trading at 52-week highs while only three stocks are trading at their 52-week lows.