Sensex up 60 points, Nifty zooms 28 pts

Following the rate cut declared, as expected, the stock markets zoomed into green after a gloomy morning trading session. At 11:47 am the Sensex was at 20,166.56 points gaining 63.21 (0.31%) on Tuesday, and the Nifty was trading at 6,103.15 points gaining 28.35(0.47%).

The RBI declared rate cut in repo rate and Cash Reserve Ratio by 25 bps that will help to infuse around Rs 18,000 crore into the economy. The economic reforms and the rate cut by the apex bank boosted the market sentiments turning stock markets into green on Tuesday.

Axis Bank stocks gained around 4.94 by 69.95 rupees and the last trading price was at 1,485.00. BSE BANKEX was rose by around 166.17 (1.13%) at 14829.75 points. Markets are expected to gain more following strong market sentiments.