In currency markets, the Indian rupee hit a fresh low of 87.5 against the dollar, as expectations of a rate cut grew ahead of the RBI's interest rate decision later this week, analysts pointed out

Indian equity benchmark indices, BSE Sensex and Nifty50, opened flat in trade on Thursday. While BSE Sensex was near 78,580, Nifty50 was above 23,750.

Broader markets outperformed the benchmarks, with small-cap shares leading the charge, as the Nifty Smallcap100 index ended higher by 1.85 per cent