New Delhi, 5 December (H.S.): Indian equity benchmarks opened lower on Friday but staged a sharp recovery following the Reserve Bank's announcement of interest rate cuts under its monetary policy, igniting buying momentum across the market. After trading under pressure until 10 AM, both the Sensex and Nifty reversed course, with the BSE Sensex climbing 136.58 points or 0.16% to 85,401.90 by 10:15 AM, while the NSE Nifty advanced 36.60 points or 0.14% to 26,070.35 in the first hour of trade.

The Sensex began the session 139.84 points weaker at 85,125.48, fluctuating mildly until the policy reveal spurred widespread purchases. Similarly, the Nifty opened down 33.95 points at 25,999.80 amid cautious sentiment but quickly turned positive post-announcement.

Among active stocks, 1,203 of 2,105 traded issues posted gains, while 902 declined; Sensex constituents saw 16 in green versus 14 in red, and Nifty had 28 advancers against 22 decliners.

The upbeat mood followed Thursday's close, where the Sensex gained 158.51 points or 0.19% to settle at 85,265.32, and the Nifty rose 47.75 points or 0.18% to 26,033.75. Investors welcomed the rate reduction as a boost amid ongoing volatility, setting a positive tone for the day's proceedings.

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Hindusthan Samachar / Jun Sarkar