BSE Sensex up over 100 points ahead of RBI policy today

The 30-share BSE Sensex opened in the green ahead of new Reserve Bank of India Governor Urjit Patel's first monetary policy review, hoping that the new central bank chair will announce a 0.25% at cut at the least. The BSE Sensex was trading at 28,357.16, up 113.87 points or 0.40% from previous day's close. 

The fourth monetary policy of the fiscal also marks the first by the newly-constituted Monetary Policy Committee (MPC) which has three members appointed by the central bank and three by the government. The MPC will decide the interest rates from now on, leaving the decision with the RBI governor only in the event of a tie. 

The markets buckled weakness in the global markets which declined on Tuesday on the back of easing expectations of a smaller fine for Deutsche Bank from the US Justice Department. Increased worries about a rate hike from the US Federal Reserve on improving macroeconomic data also took the global markets down.

On the BSE, the top gainers in early trade were, Amtek Auto 9.51%, Amaraja Battery 4.12%, Wockhardt 3.86%, Hathway 3.67%. 

The broader 50-share National Stock Exchange (NSE) Nifty was at 8775.75, up 37.65 or 0.43% from Monday's close.