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Nifty, Sensex end nearly flat, yields lower after RBI cuts key rate

Reuters 

(Reuters) - Indian shares ended little changed on Thursday as they came off early highs, while yields lowered after the in a surprise move cut interest rates and, as expected, shifted its stance to "neutral" in a bid to boost a slowing

The Reserve of India's committee (MPC) cut the repo rate by 25 basis points to 6.25 percent, a move that could aid Prime Minister Narendra Modi's government, which wants to boost lending and lift growth as it faces elections by May.

The 10-year benchmark government yield fell to 7.50 percent, from Wednesday's close of 7.56 percent, while the rupee strengthened to 71.41 to the dollar, compared with its previous close of 71.56.

The benchmark BSE Sensex closed down 0.01 percent at 36,971.09, its first fall in six sessions, while the broader NSE Nifty continued its advance into a sixth session, ending 0.06 percent higher at 11,069.4.

(Reporting By in Bengaluru; Editing by Rashmi Aich)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 16:04 IST
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