Tuesday, September 29, 2015

RBI cuts repo rate by 50 bps

Today(29th Sept 2015) at 11.00 am. Reserve Bank of India cut its key interest rate by 50 basis points from 7.25 to 6.75 per cent, lowest since May 2011. As a result Nifty moved up 225 points to 7927 from 7700 (Nifty opened weak on global cues) and closed at 7843 with a gain of 43 point. Nifty futures range was 7705 - 7970.

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