Shares in banking stocks recovered in trade following a surprise 50 basis points cut by the RBI in the Monetary policy.

Stocks of HDFC Bank and IndusInd Bank were trading with gains.

The Bank Nifty was marginally lower by 0.40 per cent after falling as much as 1 per cent in early trade. The RBI today surprised the market by cutting interest rate by a huge 50 basis points, as against expectations of 25 basis points in its Monetary policy Review.

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