Stock market today, June 6 -- Indian stocks gained on Friday, recovering from an initial decline, following the Reserve Bank of India's unexpected decision to cut its key repo rate by 50 basis points to bolster economic growth.

In a surprise move, the central bank also reduced banks' Cash Reserve Ratio (CRR) by 100 basis points and shifted its policy stance from accommodative to neutral.

As of 12:46 IST, the Nifty 50 increased by 0.93% to reach 24,980 . 45, while the Sensex was up by 0.9% at 82,131.45. Prior to the RBI's policy announcement, the indices were down approximately 0.2%.

Prashanth Tapse of Mehta Equities believes that Nifty 50 breakout above the 24,900 level could open the door to a new leg higher. Tapse recommends buying S...