Dubai: Indian shares rose on Wednesday after the central bank kept key interest rates unchanged, as widely expected, to support the economy against the backdrop of a second surge in COVID-19 cases.
The Reserve Bank of India (RBI) stuck to its accommodative monetary policy stance amid concerns that rising infections could derail the country s nascent economic recovery.
The NSE Nifty 50 index rose 1.1% to 14,851 and the S&P BSE Sensex was up 1.2% at 49,765.67 by 0613 GMT.
The benchmark 10-year bond yield rose to 6.19% post-policy, before falling back to 6.06% after the central bank announced a secondary market government securities (G-sec) acquisition programme. All the announcements made by the RBI, including government borrowing programmes, evolution of the yield curve and long-term bond purchases, are good for the markets, said Saurabh Jain, assistant vice president of research at SMC Global Securities in New Delhi.
RBI extends olive branch to bond mart with upfront purchase offer
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Indian shares rise after RBI holds key rates steady
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