Not belying the expectations of senior economists, the Reserve Bank of India s (RBI) Monetary Policy Committee (MPC) retained the repo rate at 6.50 per cent.
The US Federal Reserve Bank has kept the interest rate unchanged for the fourth consecutive time after its customary two-day meeting, saying the "economic outlook is uncertain" despite the economy was "expanding at a solid pace".
Nifty ended the first day of the week with its biggest single-day gain since December 4 with heavyweight Reliance Industries contributing the most to the gains, Deepak Jasani, Head Retail Research at HDFC Securities, said on Monday.