Mumbai, Feb. 7 -- The headline equity benchmarks pared all early losses and traded with modest gains in mid-morning trade, following the Monetary Policy Committee's unanimous decision to reduce the repo rate by 25 basis points to 6.25%. This marked the first rate change in two years, driven by easing inflation and slowing economic growth. The committee highlighted its neutral stance, focusing on aligning inflation with targets while supporting economic growth. The Nifty traded below the 23,700 level. Metal shares advanced after declining for the previous trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, added 228.58 points or 0.29% to 78,293.57. The Nifty 50 index rose 78.55 points or 0.33% to 23,681.85.

In the br...