Sensex, Nifty end higher as RBI keeps rates steady

The Reserve Bank of India kept key policy rates unchanged, as expected, as it sought to support faltering economic growth and avoid stoking already heightened inflation levels.

Indian shares, boosted by state-owned banking stocks, ended higher for the fourth straight session on Thursday, as the country’s central bank kept rates steady and left the door open for more monetary easing.

A trader shows a victory sign as Sensex and nifty keeps rates steady. (ANI Photo)

The broader NSE Nifty 50 index closed up 0.4% at 12,131.95 and the benchmark S&P BSE Sensex rose 0.4% to 41,306.03.

The Reserve Bank of India kept key policy rates unchanged, as expected, as it sought to support faltering economic growth and avoid stoking already heightened inflation levels.

State-owned banks led gains as their main sub-index on the Nifty closed up 2.83%. The country’s biggest lender State Bank of India advanced 3.23% and Indusind Bank gained 4.57%.

Tata Motors emerged as the day’s biggest laggard shedding 2.86%.