The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
"While the risk of a correction goes up in the near term, on a long-term basis the Indian market is on an absolutely strong footing."
After a volatile session, Sensex closed the day 563 points lower
The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
'The IPO window has been more or less open since the new government in 2014.'
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Think beyond engineering and medicine.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
Sanjay Mathur, managing director and head of economics research for Asia Pacific (ex-Japan), Royal Bank of Scotland, tells Business Standard that in the emerging market pack, India needs to learn lessons from Korea and Taiwan, which have managed their economic situations well.
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