Mumbai, Feb. 6 -- Indian stock markets opened on a positive note on Thursday, with investors maintaining a cautious stance ahead of the Reserve Bank of India's (RBI) interest rate decision.

The Nifty 50 index opened at 23,761.95, gaining 62 points, while the BSE Sensex surged over 200 points to start at 78,513.36.

Market experts believe that Indian markets are currently in a consolidation phase, with the upcoming rate cut decision expected to influence future movements.

"The market is moving into a consolidation phase on expectations of a pick up in growth in the coming quarters. In the near-term the market is likely to get a mild boost from a possible 25 bp rate cut by the MPC tomorrow. Even though steadily depreciating INR doesn't pr...