The Indian market opened higher on Friday, tracking gains in Asian peers and Wall Street, even as investors awaited RBI's monetary policy announcement later in the day. The majority of respondents polled by CNBC-TV18 said that the MPC will deliver a 25 basis points (bps) cut, and 40 percent expect a 40 bps cut. One basis point is a hundredth of a percentage point.

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At 9:20 am, the Sensex was trading 211 points higher at 38,314 and the Nifty was at 11,376, up 62 points.

Yes Bank, IndusInd Bank, ONGC, BPCL, SBI were the top gainers on the Sensex in the opening trade, while Zee, HCL Tech and Grasim were the only losers.

All sectoral indices, except Nifty Media, were trading in the green at the opening. Major buying was seen in the banking indices with Nifty PSU Bank up 1.5 percent and Nifty Bank and Nifty Private Bank up 1 percent each. Nifty Metal and Nifty Auto added 0.7 percent, while Nifty Pharma was up 0.6 percent.

Yes Bank shares extended gains, up 6 percent, after the lender, in a BSE filing, said that it was on a firm financial footing.

BPCL rose 2 percent, extending gains for the fourth straight session, after reports emerged that the government was planning to sell its stake in the company.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.16 percent. Japan's Nikkei stock index rose 0.04 percent and Australian shares advanced 0.29 percent.

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First Published:Oct 4, 2019 9:46 AM IST