April 17, 2012 / 10:50 AM / 6 years ago

Indian shares rally after RBI cuts rates

MUMBAI (Reuters) - Indian shares provisionally rose more than 1 percent on Tuesday after the central bank cut the repo rates by a bigger-than-expected 50 basis points in a bid to spur growth in the economy.

Rate-sensitive stocks were amongst the gainers, though investors expressed caution about the scope of future easing after the Reserve Bank of India also expressed concerns about inflation.

State Bank of India (SBI.NS) rose 1.8 percent and Larsen & Toubro (LART.NS) rose 2.5 percent

The 30-share BSE index .BSESN provisionally ended up 1.3 percent at 17,370.33, while the 50-share NSE index .NSEI rose 1.2 percent to 5,289.70.

Reporting by Manoj Dharra; Editing by Rafael Nam

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