Stock market sees significant rise as investors anticipate decision by RBI's Monetary Policy Committee.

Good day, readers! Let's take a look at the latest updates in the Indian stock market. As the day began, the equity indices showed a slight surge in the green after a flat opening. It's an important day, as the Reserve Bank of India Governor, Shaktikanta Das, is set to announce the decisions of the ongoing Monetary Policy Committee regarding interest rates.

At 9:40 a.m., the Sensex was up by 372 points or 0.50%, reaching 75,447 points. Similarly, the Nifty showed a positive trend, with a rise of 120 points or 0.53%, reaching 22,941 points. Interestingly, the midcap and smallcap shares are outperforming the benchmarks. The Nifty Midcap 100 index rose by 359 points or 0.69% to reach 52,773 points, while the Nifty Smallcap 100 index surged by 180 points or 1.10% to reach 17,010 points.

As we observe the sectoral indices, it's notable that the IT, Fin Service, Realty, Metal, and Pharma indices are the major gainers. However, the India VIX showed a marginal increase of 1% at 16.96 points. In terms of individual stocks, Wipro, Tech Mahindra, Infosys, TCS, Bajaj Finance, and Bajaj Finserv are the top gainers, while L&T, IndusInd Bank, HUL, ITC, and Kotak Mahindra Bank are the top losers.

Moving on to the global markets, most of the Asian markets are trading in the red, with Bangkok, Tokyo, Hong Kong, Shanghai, and Jakarta showing losses. However, the Seoul markets are the only ones in the green. On the other hand, the US markets closed mixed on Thursday.

In terms of crude oil prices, there hasn't been much change. The Brent crude is currently at $80 per barrel, while the WTI crude stands at $75 per barrel. According to experts, the market is likely to face some challenges in the near future due to the significant selling by foreign institutional investors (FIIs), which has reached a total of Rs 24,960 crore in the last three days. This may lead to underperformance of largecaps in sectors such as financials and IT, where FIIs have a considerable amount of assets under management. However, experts believe that this trend will eventually change when FIIs turn to buyers, which is bound to happen.

That's all for now, folks! Stay tuned for more updates on the Indian stock market.

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