Indian stock markets record gains post RBI's favorable monetary policy

The BSE Sensex ended with a gain of 91 points at 28,335. It opened at 28,378, touched an intra-day high of 28,405 and low of 28,242.

The NSE Nifty closed with a gain of 31 points at 8,769. It opened at 8,770, hit a intra day high of 8,784 and low of 8,736.

Indian stock markets recorded gains after RBI announced interest rate cuts in its monetary policy on Tuesday afternoon.

Active buying activity was seen in oil & gas, IT, pharma, basic materials and FMCG sectors, while banking, capital goods, finance and consumer durables showcased weakness on BSE.

GAIL, ONGC, Tata Steel, Wipro, Bharti Airtel and Cipla were among the major gainers, whereas Coal India, L&T, M&M, Axis Bank were seen losing sheen on BSE.

The rupee opened higher four paise at 66.54/$ against US Dollar Tuesday as against the previous close of 66.58/$. Asian equities were mixed in early trading on Tuesday. 

Wall Street closed lower on Monday. The Dow Jones industrial average fell 0.30% to close at 18,253.85 points. The S&P 500 fell 0.33% to end at 2,161.20 points. The Nasdaq slid 0.21% to close at 5,300.87 points.

World Bank has reported that India's GDP growth will remain strong at 7.6 pc in 2016 and 7.7pc in 2017.