Business Market 04 Oct 2016 Sensex surges 122 po ...

Sensex surges 122 points to 28,635 on 25 bps rate cut

Published Oct 4, 2016, 3:04 pm IST
Updated Oct 4, 2016, 3:12 pm IST
Markets end up in the green on tofday's rate cut.
 Markets end up in the green on tofday's rate cut.

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.

Location: India, Maharashtra


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