Key Indian equity indices surge after RBI's policy meet

Mumbai, June 7 The accommodating monetary policy stance of the Reserve Bank of India despite a status quo on lending rates lifted the investors' mood and boosted key equity market indices on Tuesday.

The 30-scrip Sensitive Index (Sensex), was trading 134.14 points or 0.50 per cent higher during the afternoon session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 43 points or 0.52 per cent higher at 8,244.05 points.

The RBI on Tuesday left its key policy rates and reserve ratios unchanged, concerned over the slight rise in inflation and some domestic and global upside risks that have sprung up since April.

The decision was taken at the second bi-monthly policy review for the current fiscal by RBI Governor Raghuram Rajan at its headquarters here.

The Sensex of the BSE, which opened at 26,833.54 points, was trading at 26,911.59 points (at 12.09 p.m.) in the afternoon session, higher 134.14 points or 0.50 per cent from the previous day's close at 26,777.45 points.

The Sensex touched a high of 26,944.31 points and a low of 26,829.53 points in the trade so far.

Almost all the sectors were trading in green. Good buying was observed in fast moving consumer goods (FMCG), metal, basic materials and realty sectors.