Retail inflation rises to 2.57% in February

Mar 12 (AZINS) Consumer inflation stood at a provisional 2.57 per cent in February, government data showed on Tuesday. Consumer inflation in January was revised downwards to 1.97 per cent from 2.05 per cent, according to the official statement.

Earlier, RBI had reduced the repo rate by 25 basis points or 0.25 per cent. The central bank also changed its policy stance to "neutral" from "calibrated tightening". The repo rate - which is the key interest rate at which the RBI lends short-term funds to commercial banks - currently stands at 6.25 per cent.

Meanwhile, Market benchmark Sensex Tuesday rallied over 481 points, riding on a host of positive factors like sustained foreign fund inflows, stronger rupee and chances of the incumbent NDA government coming for a second term.

Besides, gains in global equity markets also had its impact on domestic bourses.

The 30-share BSE gauge settled 481.56 points, or 1.30 per cent, higher at 37,535.66. The broader NSE Nifty reclaimed the psychological 11,300-level and closed with gains of 133.15 points, or 1.19 per cent, at 11,301.20.

In the Sensex pack, Bharti Airtel was the top performer, surging 4.61 per cent.