India Stocks, Bonds Gain as RBI to Keep System Flush With Cash
- Policy panel decided to stick with an accommodative stance
- RBI reduces its economic contraction forecast for India
National Stock Exchange (NSE) in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India stocks rose along with bonds after the Reserve Bank of India pledged to ensure adequate liquidity in the system while keeping interest rates low to support growth.
The S&P BSE Sensex climbed 1% at the close, while the NSE Nifty 50 Index gained by about the same magnitude. Both gauges have added at least 2% this week and closed at new highs after a fifth straight week of gains.