Indian stock market, June 7 -- Indian stocks closed with impressive gains on Friday, driven by the RBI's dual boost-a 50 basis point reduction in the repo rate and a 100 basis point cut in the CRR-which lifted hopes for stronger credit demand and a rebound in domestic economic growth.

Markets remained in a consolidation phase for the third straight week but still posted gains of nearly 1%, supported by positive domestic factors. After trading within a narrow range for most of the week, benchmark indices rallied sharply on Friday, ending near their weekly highs.

The Nifty 50 and Sensex ended the session on a strong note, both rising by more than 1%. The Nifty 50 advanced 252 points, or 1.02%, to settle at 25,003, while the Sensex climbed...