"Accommodative stance of the monetary policy will continue as long as necessary to revive growth and mitigate the impact of COVID19 pandemic while ensuring that inflation remains within target going forward," said RBI Governor Shaktikanta Das.

Among stocks, Hindalco emerged as the top gainer by adding 8.6 per cent at Rs 176.40 per share. Tata Steel was up by 6.6 per cent at Rs 397.05 while JSW Steel ticked up by 3 per cent to Rs 235.15 per share.

Welcoming Dr Harsh Kumar Bhanwala on board, Capital India Finance promoter SK Narvar said “his long experience will add greater value to the Capital India Group”.

Bajaj Finance and Bajaj Finserv were up by 2.5 per cent and 2.1 per cent. The other prominent gainers were UltraTech Cement and Grasim.

Among stocks, index heavyweight Reliance Industries offset yesterday's losses and gained by 7.44 per cent to close the session at Rs 2,158.50 per share.

Meanwhile, Asian markets rose after strong US manufacturing data and gains in tech stocks helped investors look past worries about the coronavirus and global economy.

At 10:15 am, the BSE S&P Sensex was down by 416 points or 1.11 per cent at 37,191 while the Nifty 50 slipped by 113 points or 1.02 per cent at 10,961.

New Delhi: The Goods and Services Tax (GST) revenue collections in July totalled Rs 87,422 crore, 14 per cent less...

Apple's strong fiscal third-quarter earnings released on Thursday boosted its stock as investors rallied behind the company's 11 per cent year-over-year growth. It also announced a 4-for-1 stock split.