The NSE Nifty climbed 0.9% or 205 points, to close at 23,163. The BSE Sensex gained 0.8%, or 631 points, to 76,532. Upsides in the broader market were stronger with the Midcap 150 index and the Smallcap 250 index surging 2.4% and 3.2%, respectively – the largest single-day gains in seven months.
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,