(Reuters) -India’s equity benchmarks opened higher on Tuesday, after falling for seven straight sessions, supported by high-weight financials after the central bank eased lending norms and as metal stocks rose on dollar weakness.
The Nifty 50 was up 0.38% at 24,725.15, while the BSE Sensex added 0.37% to 80,648.72, as of 9:22 a.m. IST.
All 16 major sectors logged gains at the open.
High-weight financials and banks gained 0.5% each while private banks rose 0.6%.
The rise comes after the Reserve Bank of India eased lending norms while tightening oversight. Its monetary policy decision is due on Wednesday. Nearly three-quarters of economists in a Reuters poll expecting rates to remain unchanged.
Metals advanced 1% and were the top sectoral gainers, supported by a weaker dollar and concerns over global supply. A weak dollar makes metals cheaper for holders of other currencies. [MET/L]
The broader small-caps and mid-caps gained 0.2% and 0.3%, respectively.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen Soreng and Mrigank Dhaniwala)
