Market Wrap: Sensex up 447 pts, Nifty above 26,150 as rate-sensitive stocks rally after RBI cut repo rate

Indian stocks closed higher on Friday, with the Sensex and Nifty reversing an early lull as financial and auto shares, typically sensitive to interest-rate moves, led the advance after the Reserve Bank of India cut its policy rate by 25 basis points.The S&P BSE Sensex climbed 447 points, or 0.52%, to finish at 85,712.37. The NSE Nifty 50 added 153 points, or 0.59%, ending the session at 26,186.45.