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RBI's Bazooka 2.0 lifts Sensex by around 1,000 points. What analysts say

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Indian markets closed sharply higher today with financials powering the rally after Reserve Bank of India announced more liquidity-boosting measures to ease financial stress stemming from the world's biggest nationwide lockdown.

The Nifty closed 3.05% higher at 9,266.75, while the Sensex rose nearly 1,000 points to 3.22% to 31,588.60. Both the indexes finished the holiday-shortened week more than 1% higher.

A rise in equities across the globe as U.S. outlined plans to gradually reopen its coronavirus-hit economy also aided the domestic investor sentiment.

The Nifty banking index added 6.6%, while the financials index closed 5.46% higher. ICICI Bank Ltd rose 9.7% and was the biggest boost to the indexes, while peer Axis Bank Ltd rose 14%. H

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