Stock market benchmark indices Sensex and Nifty rallied Friday after the Reserve Bank of India (RBI) cut key benchmark interest rate for the first time in six months and took steps to boost liquidity to support a “goldilocks” economy in the face of high US tariffs.

Rising for the second day in a row, the 30-share BSE Sensex advanced 447.05 points, or 0.52 per cent, to settle at 85,712.37. During the day, it jumped 531.4 points, or 0.62 per cent, to 85,796.72.

The 50-share NSE Nifty climbed 152.70 points, or 0.59 per cent, to 26,186.45.

The six-member monetary policy committee, led by RBI Governor Sanjay Malhotra, voted unanimously to lower the repurchase or repo rate by 25 basis points to 5.25 per cent and retained a neutral stance, which give room for further rate cuts.

In doing so, t

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