BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
The 30-share Sensex jumped 729 points to end at 28,076 and the 50-share Nifty soared 217 points to end at 8,494.
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
'I am not optimistic about the global economy for the next couple of years.'
'What adult citizens do in the privacy of their home, what they eat or drink or watch, is not the government's concern.'
'The Congress can't return to power unless it reins in prices, lowers interest rates, taxes the rich,' says Praful Bidwai. 'If this means sacking those most responsible for the UPA's pro-big business policies including Finance Minister Chidambaram, so be it!'
Many things are going unnoticed by India watchers.
Economists expect Modi to announce big-bang reforms.
'You cannot treat workers like beggars.'
Was Adani able to clinch this loan merely as a result of his proximity to Prime Minister Narendra Modi?
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
The Fed has prepared the world very well for a rate hike. In fact the market may have priced in a 25 basis points increase. So if the increase is 50 basis points, the reaction could be stunning, but a 25 basis points rise is not likely to have any great impact, says P V Subramanyam.
Markets will remain closed on Thursday, 12 November 2015 on account of Diwali Balipratipada.
But experts say downside limited, pockets of opportunities for investors
2015 will be a real test for Modi govt.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
If new goals have emerged, this is the time to make fresh investments.
Budget in the medium term aims to kick-start the investment cycle.
Growth in India will pick up from current levels, says LEO Puri, managing mirector, UTI Asset Management Company.
'Rahul Gandhi accuses the Modi government of being in thrall to corporate fat cats at the expense of farmers and other common folk. But the facts do not bear out this argument, as Indian farmers are relatively better off compared to the really wretched of the earth, the unfortunate landless, often itinerant, labourer. And since Rahul's ancestors are the ones who failed them, it is a little disingenuous of him to ignore them in his rhetorical flourishes,' says Rajeev Srinivasan.
Global working conditions have worsened in 2014.
It is unusual to see Narendra Modi highlight his OBC status -- something he has never done in his long political career. Sheela Bhatt/Rediff.com examines Modi's compulsions for bringing his caste to the foreground
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