Mumbai: Hopes of interest rate cuts by the RBI sparked healthy gains as equity benchmark indices rose in early trade on Friday.

All eyes are on the announcement of the fifth consecutive rate cut this year by the RBI’s monetary committee policy to boost economic activity and benign inflation.  

At 10:15 am, the BSE S&P Sensex was up by 214 points at 38,321 while the Nifty 50 edged higher by 49 points to 11,363. At the National Stock Exchange, sectoral indices were mixed.

Among stocks, the prominent gainers were IndusInd Bank, Hero MotoCorp, Cipla, UPL and HDFC. However, Zee Entertainment, Yes Bank, IndianOil Corporation, Grasim and JSW Steel were in the negative zone.

Meanwhile, Asian stocks edged higher tracking gains on Wall Street a day earlier, but the mood was cautious before a key US job report. MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.3% while Japan's Nikkei stock index lost by 0.17%.

Hong Kong shares were also down by 0.13% with fragile sentiment as the territory's government mulls emergency laws to contain months of violent protest opposing China's rule of the former British colony. (ANI)