Market expert on RBI repo rate cut and Sensex
New Delhi, Mar 4 (ANI): Market experts on Wednesday gave credit to the growth-oriented proposals in the Union Budget for the cut in the Repo Rate by 25 basis points by the RBI. The Reserve Bank of India (RBI) cut the Repo Rate by 25 basis points to 7.5 percent, signaling that it was convinced by the fiscal consolidation measures announced in the budget proposals for 2015-16. The RBI has kept the cash reserve ratio (CRR) unchanged at four percent. The RBI move to cut the Repo Rate by 25 BPS had its immediate impact with the Bombay Stock Exchange's Sensex opening on a record high 30000 points and the National Index or Nifty opening at 9100 points in early morning trade.
