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Noon: Markets turn positive after RBI rate cuts

Noon: Markets turn positive after RBI rate cuts
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First Published: Tue, Apr 21 2009. 12 49 PM IST
Updated: Tue, Apr 21 2009. 12 49 PM IST
Mumbai: Indian shares erased losses of nearly 2% and briefly turned positive on Tuesday afternoon, with sentiment helped by a central bank rate cut to boost growth.
By 12:26pm, the 30-share BSE index was down 0.1% at 10,971.45 points, after edging up 0.05% earlier and The 50-share NSE index was up 0.3% at 3,386.35.
India’s central bank cut its key short-term rates by 25 basis points each on Tuesday to shore up faltering growth as the global economic crisis hits Asia’s third-largest economy harder than expected.
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First Published: Tue, Apr 21 2009. 12 49 PM IST
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