The Indian stock market on Friday inched 0.6% higher, led by the response of financials as the Reserve Bank of India lowered the key interest rate by 25 basis points.

At close, Sensex ended the day with a healthy gain of 447 points, or 0.52%, at 85,712.37, while the Nifty 50 settled at 26,186.45, up 153 points, or 0.59%.

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The BSE Midcap index ended with a modest gain of 0.21% but the Smallcap index fell 0.67%.

Gains in the large and mid-caps lifted the overall market capitalisation of BSE-listed firms to nearly Rs 471 lakh crore from Rs 470 lakh crore in the previous session.

Among the sectors, reacting to the RBI decision, the Nifty Bank was up 0.82% and Financial Services 0.98% ended with healthy gains. Further, the PSU Bank index jumped 1.51%, while the Private Bank in

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