Sensex ends 580 points higher as RBI keeps repo rate unchanged

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Sensex, Nifty opened lower on Friday amidst the global trade worries due to friction between U.S. and China.

The barometer had lost 351.56 points in the previous session.

Investors were not keen to expand their portfolios ahead of the corporate earnings season, brokers said. Meanwhile, the Nifty was trading higher by 189.80 points or 1.87% at 10,318.20 with 46 components gaining. The Nifty50 of the National Stock Exchange ended at 10,325.15, gaining 196.75 points or 1.94%.

"Market was range bound as investors are still nervous about global trade tensions while better domestic triggers are providing support". Any scope of upgrade will subside volatility due to global headwinds.

The benchmark BSE rallied by around 600 points in late afternoon trade on Thursday as rate-sensitive stocks surged soon after the Reserve Bank of India () kept its key policy rate unchanged. Top gainers on the Nifty 50 were Aurobindo Pharma, Lupin and BPCL, closing with advances of around 3 per cent each. Other losers were L&T, Bajaj Auto, IndusInd Bank, Axis Bank, HUL, Wipro, Coal India, TCS, M&M, ONGC, Asian Paints and Hero MotoCorp.

Among banking stocks, state-run SBI was up 3.24 per cent to Rs 254.90, ICICI Bank gained 3.17 per cent to Rs 276.95 and Kotak Bank was up 2.21 per cent to Rs 1,102.

According to the RBI, the decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. In Europe, Frankfurt's DAX fell 0.65 per cent and Paris CAC shed 0.51 per cent in their late morning session.

Japan's benchmark Nikkei 225 index dipped 0.4 percent to close at 21,567.52, while South Korea's Kospi slipped 0.3 percent to 2,429.58. London's FTSE too was up 1.29 per cent.