Nifty crosses 10,100-mark ahead of RBI policy review

Domestic markets on Wednesday opened on a positive note as the global markets uplifted the mood. At 0920 hours BSE Sensex was trading at 32,654.08, up 82.95 points or 0.25% while NSE Nifty at 10,127.90, up 13.25  points or 0.13%. 

On 30-share benchmark, among top gainers were NTPC (1.58%), Hero MotoCorp (1.51%), Lupin (1.05%), Reliance Industries (0.96%) and State Bank of India (0.83%). Among top losers were Kotak Mahindra Bank (-0.94%), ONGC (-0.93%), Larsen & Toubro (-0.67%), Dr Reddy's Lab (-0.55%) and Hindustan Unilever (-0.51%). 

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Motilal Oswal in its research report said, "Nifty index continued its up move and made a new record life time high of 10128 by surpassing its previous high of 10114. It formed a Bullish candle with long lower shadow which indicates that every small decline is being bought in the market."

The banking stocks will be in focus ahead of Reserve Bank of India (RBI)'s bi-monthly monetary policy meet which will be held today afternoon. 

"Street expectation of 25bps rate cut by RBI in today's policy meet ahead of lowest ever inflation and subdued loan growth which will set ongoing tone of the markets", the report said.

Lupin, Wockhardt, Punjab National Bank, UCO Bank, Reliance Infra, Bata India will report their quarterly results for the quarter ended June 30. 

On global front, as per Reuters report, Asian stocks paused near decade-highs as strong earnings results from tech bellwether Apple rippled out to component makers in the region. 

MSCI`s broadest index of Asia-Pacific shares outside Japan was steady, having hit its highest since late 2007. Japan`s Nikkei rose 0.4%.