FIRST TRADE: Equity indices open higher; Nifty up 0.17% at 25,056, Sensex gains over 200 pts

Indian equities in Wednesday trade started higher ahead of the RBI MPC outcome later today. Nifty at the start was up 43.55 or 0.17 per cent at 25,056.7, while the Sensex added 204.07 points or 0.25 per cent at 81,838.88.

Sectorally pharma and PSU Bank stocks are in the green, while metal, private banks and FMCG stocks traded in the red.

Bank Nifty, also, meanwhile traded with marginal gains. Meanwhile, broader markets gained signifcantly with Nifty Midcap 100 up 0.9 per cent outperforming the headline indices.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "The ‘Sell India, Buy China’ strategy pursued by the FIIs recently appears to be coming to an end as indicated by the declining FII sell numbers and the profit booking in Chinese stocks, particularly those listed in Hong Kong. An important takeaway from the FIIs vs DIIs tug-of-war that has happened anytime in the ongoing bull rally is that the fight ended in the victory of the DIIs each time."

Meanwhile, Asian markets traded mixed with Hang Seng index down over 2 per cent, while Nikkei and Straits Times traded in the green.

Amid sharper gains in the US crude inventory, crude price has been rangebound and not moved sharply higher. Last brent crude traded near $77 per barrel level.