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Indian stocks rally on rate cut on small savings

Xinhua, March 21, 2016 Adjust font size:

Indian bank shares rose and bond markets surged on Monday after the government on Friday cut interest rates for term deposits offered to millions of small savers.

The benchmark S&P BSE Sensex closed at 25,285.37, 332.63 points or 1.33 percent up from previous close of 24,952.74, with a turnover of 571.91 crore rupees (about 86.4 million U.S. dollars). Endit