Markets surge after RBI surprises with steep rate cut

Markets surge after RBI surprises with steep rate cut

The Sensex surged 746 points and the Nifty crossed 25,000 after the RBI surprised markets with a 50 bps rate cut and a 100 bps CRR reduction. The central bank also shifted its stance to neutral. Broader indices gained, the rupee strengthened slightly, and crude prices rose, driven by strong US jobs report and improved sentiment on China trade talks.

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