Mumbai/IBNS, Dec. 5 -- The Indian stock market surged on Friday following the Reserve Bank of India's decision to cut the repo rate by 25 basis points. The BSE Sensex rose over 300 points, while the NSE Nifty 50 climbed more than 100 points.

The Bank Nifty index also gained 0.55%.

Among Nifty 50 stocks, Bajaj Finance, Bajaj Finserv, and Infosys were top gainers, while Trent, Tata Motor Passenger Vehicles, and Hindustan Unilever lagged.

RBI Governor Sanjay Malhotra announced the reduction from 5.50% to 5.25% during a press conference after the three-day Monetary Policy Committee (MPC) meeting.

This is the second rate cut this year, following a cut from 6% to 5.5% in June.

The repo rate cut comes after strong economic data, with India ...