Sensex, Nifty end higher as RBI keeps rates steady

Shares, boosted by state-owned banking stocks, ended higher for the fourth straight session on Thursday, as Reserve Bank of India (RBI) kept rates steady and left the door open for more monetary easing.

The broader NSE Nifty 50 index closed up 0.4 per cent at 12,131.95 and the benchmark S&P BSE Sensex rose 0.4 per cent to 41,306.03.

Also read: Indian economy experienced abrupt slowdown in 2019, but it’s not in a recession: IMF MD

The Reserve Bank of India kept key policy rates unchanged, as expected, as it sought to support faltering economic growth and avoid stoking already heightened inflation levels.

State-owned banks led gains as their main sub-index on the Nifty closed up 2.83 per cent.

The country's biggest lender State Bank of India advanced 3.23 per cent and Indusland Bank gained 4.57 per cent.

Tata Motors emerged as the day's biggest laggard shedding 2.86 per cent.