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Financial sector shares HDFC, HDFC Bank and State Bank of India were among the top gainers on the BSE on Tuesday morning. At 11.14 am HDFC led the pack on the bourse, trading at Rs 1,202.30, up 2.5 per cent on its overnight close at Rs 1,172.95.
Earlier today the RBI cut the repo rate by a larger-than-expected 50 bps to 6.75 per cent. The markets reacted favourably to the cut, narrowing their early losses in late morning trading. At 11.34 am the BSE Sensex was at 25,557, down 59 points. The NSE was at 7,776, down 19 points.
BHEL steamed up 1.41 per cent to quote at Rs 197.80 against Rs 195.05 at close yesterday.
HDFC Bank was trading at Rs 1,058.60. This represented a gain of 1.16 per cent on its previous close at Rs 1,046.45.
M&M advanced 1.16 per cent to trade at Rs 1,235.55 against Rs 1,221.40 at close last evening.
State Bank of India was trading at Rs 241.70 against Rs 239.55 at close yesterday. This was a gain of 0.90 per cent.
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