Banking rally lifts markets; RBI policy boosts Nifty to 24,800
Indian equity markets snapped their eight-day losing streak, with the Nifty index reclaiming 24,800, driven by a 700-point rally in Nifty Bank. This came after the Reserve Bank of India held steady on repo rates and revised inflation forecasts lower. The central bank also announced a slew of reforms for the banking space, including increased loan limits.