Mumbai: The markets took a positive cue form the Reserve Bank of India reducing its repo rate by upto 25 basis points from the earlier 6.50 per cent to 6.25 per cent.
The benchmark S&P Sensex climbed up around 122 points or 0.43 per cent to reach at 28,365.50 level. The Nifty clocked a surge of 38 points or 0.44 per cent to reach at 8,776 level.
The markets had already shown positive trading shine in the morning itself with key indices doing well on the bourses.
The rate cut will also have a positive impact on the banking sectors as it will enable the lenders to cut down on home loans....