By Bharath Rajeswaran
(Reuters) -Indian shares inched higher on Friday after the Reserve Bank of India cut interest rates, as widely expected, to support the country’s slowing economic growth.
The Nifty 50 rose 0.2% to 23,651, as of 10:10 a.m. IST, while the BSE Sensex gained 0.3% to 78,270.5.
Rate-sensitive financials gained 0.3%, while auto and realty jumped 0.6% each.
The RBI cut its key repo rate on Friday for the first time since May 2020 to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years in the current fiscal year.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala, Rashmi Aich and Eileen Soreng)
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