After yesterday’s free fall The BSE Sensex rose as much as 290 points intraday on Friday as traders seemed to have added long positions ahead of Greek election over the weekend and RBI monetary policy on Monday 18 June. The Sensex and the Nifty closed up 1.6 percent and 1.7 percent respectively.
The BSE benchmark recouped all yesterday's losses that rose 272 points or 1.63% higher, to close at 16,949.83. Meanwhile, the NSE benchmark gained 84.30 points at 5,139.05.
The market breath was positive. On the BSE, 1,523 advanced while 1,169 declined.
Anticipation of a rate cut has boosted market today and also better cues from global market. However, most experts feel that more or less the market has already priced in 25 basis points cut in both repo rate and cash reserve ratio (CRR). If the RBI delivers the same then the policy would be a non-event and market might take u turn, say experts.
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