Zee Media Bureau
New Delhi: The BSE Sensex on Thursday gained almost 600 points to trade at 27,947 points and NSE Nifty also surged around 186 points to trade above 8,450 level after the RBI reduced the repo rate by 25 basis points, from 8.0 percent to 7.75 percent, with immediate effect.
State Bank of India was the top gainer in Nifty, up 5 percent followed by ICICI Bank and Punjab National Bank, which were up above 3 percent each.
The auto index was up 1.3 percent, while the realty index added more than 3 percent.
On Wednesday, the Sensex slipped by about 79 points to end at 27,346.82 as ITC shares dropped on worries related to proposed ban on sale of loose cigarettes amid weak global cues.
Domestic markets were also affected after the World Bank downgraded its forecast for the global economy this year.
