The market opened in the green backed by strong global cues with the BSE Sensex at 35,278 points and the NSE Nifty, reclaiming the 10,700-mark, opening at 10,722 points. The market opened in the green a day after the RBI raised the repo and the reverse repo rates but maintained a 'neutral' stance.

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Idea Cellular, ICICI Bank, Bajaj Finance, M&M and Hindalco are top opening index gainers while Bharti Airtel, Bharti Infratel, Coal India and Tech Mahindra are the top opening index losers. Bajaj Finance reached its 52-week high in the opening trade. (Opening Bell, as of 09:18 am)

What was expected?

The market is likely to open in the green on Thursday as the global markets indicated a positive trend.

Asian shares rose to 2 1/2-month high on Thursday, supported by strong economic fundamentals, while expectations the European Central Bank could start to wind down its stimulus boosted the euro and global bond yields.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent to extend its gains, hitting a 2-1/2 month high for a second straight day. Japan's Nikkei average rose 0.7 percent to 22790.68 in early trade.

The Dow Jones Industrial Average rose 1.4 percent to 25,146.39, the S&P 500 gained 0.86 percent to 2,772.35 and the Nasdaq Composite added 0.67 percent to hit its record closing high of 7,689.24.

The Indian market on Wednesday closed at the day’s high after a volatile session of trade.

Stocks saw a fall in an immediate reaction to RBI's 25 basis point rate hike, but stabilised later to close with major gains.

The late surge helped the market snap a three-day losing streak with the Sensex gaining 276 points to 35,179 and the Nifty surging 91 points to 10,685.

First Published:Jun 7, 2018 7:19 AM IST