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The Nifty and the Sensex gained in excess of half a per cent led by FMCG and IT stocks.
The Nifty closed at 5904, up 33 points while the Sensex closed at 19388, up 101 points.
Market-men said that better than expected results in FMCG companies HUL and ITC and short covering in IT scrips were the reasons for this gain.
“We expect the RBI to cut its repo rate by 25 basis points to 7.25 per cent in its annual policy meeting due on May 3,” said Sonal Varma-India Economist- Nomura in its Asia Insights report.
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