Key equity benchmark indices rallied today, 15 January 2015 as investors cheered the Reserve Bank of India's (RBI) surprise announcement of a cut in its main lending rate.
At 15:18 IST, the S&P BSE Sensex was up 776.04 points or 2.84% at 28,122.86.
All 13 sectoral indices on BSE edged higher. The BSE Realty index (up 8.39%) and the BSE Bankex index (up 3.65%) outperformed the Sensex.
The BSE Auto index (up 2.42%), the BSE Consumer Durables index (up 1.04%), the S&P BSE Metal index (up 1.12%), the BSE Oil & Gas index (up 2.05%), the BSE Power index (up 2.26%), the BSE Capital Goods index (up 2.78%), the BSE PSU (up 2.01%), the BSE FMCG index (up 1.53%), the BSE Healthcare index (up 0.45%), the BSE IT index (up 0.51%), and the BSE Teck index (up 0.67%) underperformed the Sensex.
The Reserve Bank of India (RBI) surprised financial markets by announcing a cut in its main lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review today, 15 January 2015. Reacting to the RBI's surprise rate cut, the finance ministry today, 15 January 2015, said that along with other policy actions already taken by the government and other that are under its consideration, the RBI move represents one more step towards reviving investment and realizing India's medium term growth potential.
Powered by Capital Market - Live News
