Mumbai, June 6 -- The key equity domestic indices traded with substantial gains in mid-morning trade after the RBI cut the repo rate by 50 bps to 5.50%, amid favourable domestic environment, looking ahead, the MPC will closely monitor evolving domestic and global conditions to guide future policy moves. Market participants are also closely tracking bond markets and global trade dynamics. The Nifty traded above the 24,950 mark.

The higher-than-expected 50 bps rate cut decision by the MPC, though positive for growth is slightly negative from the market perspective for the near term. The change in monetary stance from accommodative to neutral also indicates that more rate cuts are unlikely unless the situation warrants. This big rate cut wi...