The 30-share BSE sensitive index (sensex) extended gains to a second day after the Reserve Bank of India (RBI) lowered bank rate by a quarter percentage point to 6 per cent on Tuesday.
But banking stocks fell amid worries there may not be any more reductions in interest rates.
Meanwhile, sustained buying interest continued in blue chip old economy and defensive stocks. Technology stocks dwindled after an initial lunge.
The sensex, after trading in a narrow range of 17.34 points, climbed 13.43 points to close at 2,950.14. The broader NSE S&P CNX Nifty Index gained 2.80 points to settle at 932.30, off the day
