Sensex closes 162 points up at 25,779 after RBI rate cut lifts sentiments, Nifty settles at 7,843 -- 29 Sep 2015

The stock markets reversed early losses after the central bank cut its key interest rate by 50 basis points versus expectations of a 25-basis-point cut. The BSE Sensex closed 161.82 points up at 25,778.66. Nifty closed 47.60 points up at 7,843.

Domestic equity markets reversed losses while the benchmark 10-year bond surged to its highest in more than two years after the Reserve Bank of India  cut interest rates by a bigger-than-expected 50 basis points and allowed for steady increase in foreign investment limit in government securities. The BSE Sensex closed 161.82 points up at 25,778.66. Nifty closed 47.60 points up at 7,843.

Domestic equity markets reversed losses while the benchmark 10-year bond surged to its highest in more than two years after the Reserve Bank of India (

The RBI cut the repo rate from 7.25 per cent to 6.75 per cent, while it left cash reserve ratio unchanged at 4 per cent.

Brokers said the RBI’s decision to cut repo rate by 0.50 per cent to 6.75 per cent was better than market expectations and buoyed trading sentiments.

In the 50-share index, Maruti Suzuki, HDFC, Coal India, IndusInd Bank, Bank of Baroda gained between 1.80 per cent and 3.30 per cent. On the other hand, Vedanta, Bosch, BPCL, Hindalco and Tata Steel dipped between 3.10 per cent and 5.70 per cent.

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