MARKETS extend gains after rate cut

NIFTY, SENSEX REBOUND STRONGLY, LED BY BANKING AND FINANCIAL SERVICES STOCKS

- FE BUREAU

THE EQUITY BENCHMARKS extended gains for the second straight session on Friday, helped by the Reserve Bank of India’s (RBI) decision to cut the repo rate by 25 basis points to 5.25% while maintaining a neutral stance.

The Nifty 50 rebounded from an intraday low to close at 26,186.45, up 152.70 points or 0.59%, while the BSE Sensex advanced 447.05 points or 0.52% to 85,712.37. Banks and financial services stocks led the rise. After a roller-coaster activity, the Nifty for the week ended 0.08% lower, while the Sensex was flat, down by 5 points.