Stock Market
RBI slashes repo rate by 25 points — see how Indian stocks are soaring!
Mumbai/IBNS: The Indian stock market surged on Friday following the Reserve Bank of India’s decision to cut the repo rate by 25 basis points. The BSE Sensex rose over 300 points, while the NSE Nifty 50 climbed more than 100 points.
The Bank Nifty index also gained 0.55%.
Sectors sensitive to the rate cut, including Nifty Realty, Nifty Auto, Nifty Financial Services, and Nifty PSU Banks, saw notable gains.
Among Nifty 50 stocks, Bajaj Finance, Bajaj Finserv, and Infosys were top gainers, while Trent, Tata Motor Passenger Vehicles, and Hindustan Unilever lagged.
RBI Governor Sanjay Malhotra announced the reduction from 5.50% to 5.25% during a press conference after the three-day Monetary Policy Committee (MPC) meeting.
This is the second rate cut this year, following a cut from 6% to 5.5% in June.
The move aims to make loans cheaper for borrowers amid a weakening Indian rupee and to support economic activity. Retail borrowers are expected to benefit from lower EMIs.
The repo rate cut comes after strong economic data, with India recording GDP growth of 8.2% in Q2, marking a six-quarter high.
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