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Sensex reclaims 31k, Nifty past 9k ahead of RBI press meet

Friday,   27-Mar-2020   09:51 AM (IST)

Indian equity markets surged, lifted by bank stocks, on Friday ahead of the 10 AM press conference by RBI Governor Shaktikanta Das. Most analysts expect the Reserve Bank of India (RBI) to cut interest rates besides announcing other liquidity support measures. The S&P BSE Sensex zoomed over 1,000 points and reclaimed the 31,000-mark, with IndusInd Bank surging another 15 per cent and Axis Bank up 10 per cent. The Nifty50 index also reclaimed the 9,000-mark, up 340 points, or 3.67 per cent. All the Nifty sectoral indices were in the green, led by Nifty Bank index, up 7.2 per cent. In the broader market, the S&P BSE MidCap index and SmallCap index were both up 3 per cent each.