Welcome Guest! | World Time

Sydney

Tokyo

Singapore

Frankfurt

London

New York

Nifty, Sensex end nearly flat, yields lower after RBI cuts key rate

Thursday,   07-Feb-2019   04:00 PM (IST)

Indian shares ended little changed on Thursday as they came off early highs, while bond yields lowered after the central bank in a surprise move cut interest rates and, as expected, shifted its stance to “neutral” in a bid to boost a slowing economy. The Reserve Bank of India’s monetary policy committee (MPC) cut the repo rate by 25 basis points to 6.25 percent, a move that could aid Prime Minister Narendra Modi’s government, which wants to boost lending and lift growth as it faces elections by May. The 10-year benchmark government bond yield fell to 7.50 percent, from Wednesday’s close of 7.56 percent, while the rupee strengthened to 71.41 to the dollar, compared with its previous close of 71.56. The benchmark BSE Sensex closed down 0.01 percent at 36,971.09, its first fall in six sessions, while the broader NSE Nifty continued its advance into a sixth session, ending 0.06 percent higher at 11,069.4.