The Sensex is up 494.69 points or 1.8 percent at 27841.5 and the
Nifty is up 144.10 points or 1.7 percent at 8421.65. About 1523 shares have
advanced, 717 shares declined, and 311 shares are unchanged.
The market welcomes the move with the Nifty capturing 8400 last
seen on January 5, led by gains in the Bank Nifty that hit a record high.
Midcap index also touched an all time high. Industry and experts welcome the
move. The chief economic advisor Dr Arvind Subramaniam says there has been a
shift in dis-inflationary pressures and quantum or rate cuts and time will be
determined by data. ICICI Bank, HDFC, SBI, Tata Power and M&M are top
gainers in the Sensex while GAIL, Tata Steel and Sesa Sterlite.
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