MUMBAI, SEPT 29: Buoyed by RBI’s bigger-than-expected cut in key repo rate by 50 basis points the BSE benchmark Sensex ended 162 points up amid inherent weakness and mixed global cues. The NSE Nifty too rose 48 points, recapturing the 7,800-mark. Providing the much-needed relief to consumers and companies alike, Reserve Bank Governor Raghuram Rajan today pulled off a surprise by cutting the repo rate by 50 bps to 6.75 per cent as against an expected 25 bps reduction.
The apex bank also hiked limit for FPI investment in government bonds to 5 per cent of the outstanding stock by March 2018.
The BSE Sensex, which was trading down by over 1 per cent prior to the policy announcement by the RBI Governor, quickly covered all the losses before closing the day at 25,778.66, up 161.82 points.
Similarly, the NSE Nifty settled higher by 47.60 points to close at 7,843.30.
In terms of sectors, BSE realty gained the most surging 1.99 per cent, followed by banking, auto, capital goods and power.
In line with the overall trend, the BSE mid-cap index rose 0.42 per cent, but small-cap ended 0.11 per cent lower.
The market breadth remained negative as 1,356 stocks ended in the red while 1,250 finished higher and 109 ruled steady. The total turnover climbed further to nearly Rs 3,053.09 crore, from Rs 2,769.51 crore yesterday.
