Sensex zooms 600 points Nifty above 8400 on RBI rate cut

Mumbai: The benchmark BSE Sensex climbed over 600 points and the NSE Nifty regained the 8,400-mark in opening trade on Thursday as rate-sensitive stocks led rally after the RBI in a surprise move cut repo rate by 0.25 %. 

The 30-share index, which shed 238.45 points in the previous two sessions, rebounded by 600.77 points, or 2.19 %, to trade at 27,947.59. 

All the sectoral indices, led by banking and realty were trading in the positive terrain with gains up to 3.01 %. 

On similar lines, the National Stock Exchange index Nifty regained the psychological 8,400-mark by surging 176.05 points or 2.12 % to, 8,453.60. 

Brokers said sentiments buoyed largely on the back of the RBI’s surprise move to cut repo rate by 25 basis points to 7.75 %, triggering all-round buying, particularly in interest-sensitive stocks. 

Among other Asian markets, Hong Kong’s Hang Seng index was up by 0.15 %, while Japan’s Nikkei moved up by 1.46 % in early trade today. 

The US Dow Jones Industrial Average ended 1.06 % lower in Wednesday’s trade.