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Sensex stages smart recovery

MUMBAI: Stock market barometer Sensex on Tuesday jumped by over 290 points on the Reserve Bank of India ’s decision to keep benchmark rates stable, while ignoring the marginal hike in the amount of depositors’ money banks should keep with the central bank.

Marketmen attributed the sharp rise to across-the-board buying support that followed the quarterly monetary policy review by the apex bank.

The RBI’s decision to remove the Rs. 3,000 crore cap on daily reverse repo (overnight borrowing) transactions too helped trading sentiment.

The 30-share Bombay Stock Exchange sensitive index (Sensex) ended at 15550.99, a big rise of 290.08 points over Monday’s close of 15,260.91. — PTI

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