Buoyed by RBI’s repo cut, the sensex crossed the 30,000-mark for the first time and nifty registered a lifetime high level on Wednesday.
The BSE benchmark sensex, which had been shying away from the 30,000 point threshold for quite some time, surged 431 points to 30,015 while nifty opened 120 points higher at 9,116.
The booster came after Reserve Bank Governor Raghuram Rajan on Wednesday announced a repo rate cut by 25 basis points.
The repo rate has been slashed from 7.75 per cent to 7.5 per cent with immediate effect.
The RBI move comes days after Finance Minister Arun Jaitley’s Union Budget announcement.