Zee Entertainment, ONGC and Tech Mahindra were among the top Nifty gainersHighlightsSensex rises as much as 0.83% to touch 37,976.72 after a positive start Nifty climbs to 11,186.05 at strongest level recorded in early deals Analysts await RBI's policy announcement due around noonDomestic stock markets started Thursday's session on a positive note, ahead of the outcome of the Reserve Bank of India's three-day policy review.

The S-P BSE Sensex index rose 0.83 per cent - or 313.39 points - to 37,976.72 at the strongest level recorded in early trade, having started the day up 283.47 points (0.75 per cent) at 37,946.80.

The broader NSE Nifty 50 benchmark climbed to as high as 11,186.05, up 84.4 per cent from its previous close, after starting the day at 11,185.70.

Analysts are divided over whether the central bank will reduce the repo rate further due to worsening inflation. The benchmark indices trimmed half of early gains by 9:27 am.

At that time, the Sensex traded 160.00 points - or 0.42 per cent - higher at 37,823.33, while the Nifty was up 39.00 points - or 0.35 per cent - at 11,140.65.Zee Entertainment, ONGC, Tech Mahindra, Wipro and Coal India, trading between 1.32 per cent and 3.68 per cent higher, rose the most among the 37 gainers in the 50-scrip Nifty basket.On the other hand, Maruti Suzuki, Eicher Motors, Axis Bank, Bharti Airtel and Shree Cement, down between 0.40 per cent and 1.04 per cent each, were the top Nifty losers.Around two-thirds of economists in a poll by news agency Reuters expect the RBI to cut the repo rate by 25 basis points today, and once more next quarter to a record low of 3.50 per cent.At present, the repo rate - or the key interest rate at which the RBI lends short-term funds to commercial banks - stands at 4 per cent, its lowest level recorded since 2000.(: Shaktikanta Das-Led RBI To Announce Policy Decision Today.

Will There Be A Rate Cut?)This is the first scheduled policy review since February.The Monetary Policy Committee has already met twice outside its bi-monthly cycle, first in March and then in May, on account of the fast-changing macroeconomic situation arising from the coronavirus pandemic.