Sensex up 1,100 points on RBI relief hopes

The Indian stock market witnessed a gap-up opening on Friday and the Sensex traded over 1,100 points higher of hopes of further relief by the Reserve Bank of India (RBI).

RBI Governor Shaktikanta Das is scheduled to address the media at 10 a.m. There are expectations that the central bank may announce an emergency rate cut apart from further liquidity measures.

At 9.33 a.m., it was trading at 31,050.05, higher by 1,103.28 or 3.68 per cent from 29,946.77 points.

It had opened at 30,747.81 and it had touched an intra-day high of 31,105.11 and a low of 30,679.04 points.

The Nifty50 on the National Stock Exchange was trading at 8,985.95, higher by 344.50 points or 3.99 per cent from its per cent.