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Sensex up 44 points in late morning deals

Sensex moved up by 44 points as investors awaited the central bank's annual credit policy scheduled to be announced later today.

business Updated: Apr 29, 2008 11:43 IST

The Bombay Stock Exchange benchmark Sensex moved up by 44 points at 1030 hrs on Tuesday as investors awaited the central bank's annual credit policy scheduled to be announced later today.

The 30-share index of the Bombay Stock Exchange moved in a range of about 100 points and was quoted at 17,049.28 at 1030 hrs, up 33.32 points over its previous close.

The broader 50-share S&P CNX Nifty of the National Stock Exchange was up 10.30 points at 5,099.95 at 1030 hrs from its last close of 5,089.65.

Investors anticipated some monetary measures by the Reserve Bank to contain the rising inflation. The Central Bank had announced a 50 basis point hike in the CRR on April 17, of which 25 basis point increases came into effect on Saturday and remaining will be effective from May 10.

The market expects a marginal hike in the repo rate in the monetary policy review, brokers said.