Sensex, Nifty Reverse Losses To End Modestly Higher
(RTTNews) - Indian shares recovered from an early slide to end higher on Thursday after the Swiss National Bank delivered another interest rate cut, reducing its policy rate by 25 basis points to 1.25 percent, as expected by two-thirds of analysts.
The central bank pointed to easing price pressures that allowed it to maintain its position as a frontrunner in the global rate cutting cycle.
Benchmark indexes swung between gains and losses all through the day due to the weekly F&O expiry.
The 30-share S&P/BSE Sensex ended the session up 141.34 points, or 0.18 percent, at 77,478.93 while the broader NSE Nifty index closed up 51 points, or 0.22 percent, at 23,567.
Adani Ports, BPCL, JSW Steel, Grasim and Hindalco all rose around 2 percent in the Nifty pack while NTPC, HDFC Life, Sun Pharma, Mahindra & Mahindra and Hero MotoCorp dropped 1-2 percent.
Bharti Airtel fell about 1 percent after raising its stake in Indus Towers. PNB Housing tumbled 5.4 percent after 5.2 percent equity changed hands in block deals.
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