The benchmark equity indices closed higher for third straight session on Friday, after the Reserve Bank of India Monetary Policy Committee slashed the key lending rate by 50 basis points to bring it to 5.5%.
The NSE Nifty 50 ended 252 points, or 1.02% higher at 25,003, while the BSE Sensex closed 746.95 points, or 0.92% up at 82,188.99. During the day, the Nifty rose 1.13% to trade at 25,092.50 and the Sensex advanced 1.05% to 82,299.89.
The market saw a positive trend this week, with Nifty gaining over 1%, driven by Eternal Ltd. and Shriram Finance Ltd. Sensex also rose nearly 1%, snapping a two-week losing streak.
Broader market indices outperformed the benchmark indices, with Nifty Midcap 150 and Smallcap 250 each gaining more than 2.5%.
AloJapan.com