Indian stock markets opened higher during the weekend trading day of this shortened week. Benchmark indices are expected to post their fifth consecutive weekly advance. The BSE Sensex opened 50 points higher at 44,665 while the NSE Nifty 50 index gained 0.5 percent at the start of trade to open at 13,177. As of closing on last day, both Sensex and Nifty were up over 1 percent for the week.

Among sectoral indices, the PSU Bank index continued rise opening with gains of 0.8 percent. The Nifty Media index opened with gains of 1 percent while Nifty Bank, Nifty Auto and Nifty FMCG index gained 0.4 percent each.

Rate sensitive stocks like banking, housing finance, auto stocks shall be in focus after the RBI will announce its bi-monthly MPC outcome today. Telecom stock and airline stocks shall aloes remain in focus after data on client acquisition for the month of September. And in respect of the later, the govt. allowed airlines to operate at 80 percent of pre-Covid capacity. Shares of NCC gained after Rakesh Jhunjhunwala hiked his stake in the company to 13.7 percent.

Broader markets have opened in line with the benchmarks. The Nifty Midcap and Smallcap indices have gained 0.5 percent each at the start of trade.

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