Raghuram Rajan works his magic, Sensex vaults 358 points

Reserve Bank of India governor Raghuram Rajan may have set the stage for the Sensex to scale higher peaks this week. Snapping a five-day losing streak, the Sensex rose 358 points, or 1.74%, to close at 20,952 on Tuesday after the central bank raised the repo rate by 25 basis points and cut the marginal standing facility (MSF) by an equal measure, in line with expectations. It left the cash reserve ratio ( CRR) unchanged, which came as a relief to the market. 

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