Equities surge as RBI maintains key lending rates

Mumbai: Key Indian equity indices surged to trade on a higher note on Wednesday after the country's central bank maintained its key lending rates prompted by rising inflationary pressure.

According to the Reserve Bank of India's fourth bi-monthly monetary policy review of 2017-18, the repurchase rate, or the short-term lending rate for commercial banks on loans taken from it, has been maintained at 6 per cent.

At 2.40 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 59.75 points, or 0.61 per cent, to trade at 9,919.25 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,522.17 points, traded at 31,728.40 points -- up 231.02 points, or 0.73 per cent.

The Sensex has so far touched a high of 31,728.46 points and a low of 31,457.78 points during intra-day trade.

The BSE market breadth was bullish -- 1,469 advances and 1,095 declines.