Following the Reserve Bank’s rate cut, the Sensex at the Bombay Stock Exchange recovered smartly from initial big losses, and had gained a good 304 points, to 25,921 in afternoon trade, a short while ago. Earlier in the morning, ahead of the RBI’s monetary policy announcement, the Sensex had plunged 309 points. Similarly, the Nifty at the National Stock Exchange had jumped 81 points, to 7,877 a short while ago.
But among other key Asian bourses, the Chinese market had plunged 2 percent, while stock markets in Japan and Hong Kong had also posted big losses.
At the forex market, the rupee had depreciated 32 paise, to 66.37 against the dollar in early trade.
