Sensex, Nifty open in open in green ahead of RBI's policy meet outcome; Yes Bank, IndusInd Bank, ONGC, SBI major gainers

The Indian market opened in the green ahead of RBI's policy meet outcome. The 30-share Sensex was 210 points up at 38,317, while the Nifty index was 53 points up at 11,367, around 09:35. Yes Bank shares jumped 5 percent, followed by IndusInd Bank, State Bank of India and HDFC, each trading higher by over a percent. Among the top gainers in the Sensex index are Yes Bank, IndusInd Bank, ONGC and State Bank of India.

Amid positive global markets, domestic institutional investors (DIIs), neutral futures and options (F&O), negative foreign institutional investors (FIIs) cues, the short-term trend of Indian share market will be neutral today, while sentiment will be cautious, according to Zee Business.

Domestic equity benchmarks on Thursday, declined for the fourth session in a row amid negative cues from global indices, but certain stocks came in news after the market was closed for trading which can have an impact on the indices when it reopens today. Zee Business suggested a list of five such stocks including Tata Steel, Sun Pharma Advanced Research Company (SPARC), Mahanagar Gas (MGL), NBFC Sector and Bharat 22 ETF.

Meanwhile, Asian stocks edged higher on Friday, thanks to gains on Wall Street, but the mood was cautious before a key US job report that could help determine whether the Federal Reserve cuts interest rates further. Investors have been caught out by a set of weak US data this week, including surveys on services and manufacturing sectors, deepening fears the Sino-US trade war is starting to hurt growth in the world`s biggest economy, according to a Reuters report.

MSCI`s broadest index of Asia-Pacific shares outside Japan ticked up 0.16%. Japan`s Nikkei stock index rose 0.04% and Australian shares advanced 0.29%, said the report, adding that the US stock futures fell 0.16% in Asia on Friday, though that followed a 0.80% increase in the S&P 500 on Wall Street overnight on hopes that future Fed rate cuts will support corporate profits.

In Asia, excluding Japan, equities were on course for the third weekly decline, their worst performance since four weeks of declines ended August 16. US Treasury prices fell slightly but two-year yields remained near the lowest in two years due to growing signs the United States is feeling an economic chill from its trade war with China.

The Fed has already cut rates twice this year as policymakers try to limit the damage caused by the bruising Sino-US trade war.

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The dollar edged lower to 106.85 yen, close to a one-month low of 106.48 yen reached on Thursday. The euro was a shade higher at $1.0942, also near a one-week high. For the week, the dollar was down 1.01% versus the yen and off 0.3% against the common currency, Reuters added.