New Delhi, June 9 -- Indian stock market bulls were buoyed after the country's central bank delivered a surprise policy move last week, pushing the frontline indices to break out of their recent narrow trading range amid ongoing global trade tensions.

The RBI-led uptrend extended in today's trade (June 9) as well, with both frontline indices gaining nearly 0.70% each to the day's high, largely led by financials, as the sector attracted renewed interest from Dalal Street investors. Optimism grew that the latest policy moves would support credit recovery in the economy and lead to a rebound in banks' earnings.

On Friday, the Indian central bank announced a deeper-than-expected 50 basis point cut in the repo rate to 5.5%, bringing it to a ...