Bank stocks likely to surge after RBI cuts MSF rate, eases liquidity

The BSE Sensex and the broader Nifty are likely to open strongly on Tuesday, a day after the Reserve Bank of India cut the marginal standing facility (MSF) rate by 50 basis points to 9 per cent. Nifty futures on the Singapore Exchange traded 0.85 per cent higher at 5,983 as of 08.20 a.m. The spot Nifty had closed down 1 point at 5,906 on Monday, while the Sensex ended 21 points lower at 5,906. The central bank also said that ...