Sensex, Nifty rise 1% after central bank keeps rates steady

The NSE Nifty 50 index closed 0.92% higher at 14,819.05 and the S&P BSE Sensex rose 0.94% to 49,661.76.

Indian shares and bonds rose on Wednesday after central bank kept interest rates at record lows to support the economy on the back of a record surge in COVID-19 cases, and announced a secondary market government security purchase programme. The Reserve Bank of India (RBI) stuck to its accommodative monetary policy stance amid concerns that the resurgence in infections could derail the country's nascent economic recovery. The NSE Nifty 50 index closed 0.92% higher at 14,819.05 and the S&P BSE Sensex rose 0.94% to 49,661.76.