The markets were positive led by a strong upsurge on last Monday. RBI kept all rates unchanged and surprised by reducing SLR by a 100 basis points to 23 per cent. Though the markets had expected a cut in rates, it's not happening. It was absorbed by powerful inflows from FIIs who have continued to be big buyers. The BSE SENSEX gained 359.81 points or 2.09 per cent to close at 17,557.74 points. The NSE NIFTY gained 104.70 points or 2.01 per cent to close at 5,320.40 points. The broader indices gained a little less than the benchmark indices with the BSE500, BSE200 and BSE100 gaining 1.39 per cent, 1.51 per cent and 1.61 per cent. The BSE MIDCAP and BSE SMALLCAP were very small gainers with gains of 0.45 per cent and 0.06 per cent respectively.

Freedom flag: The saffron, white and green getting ready for Independence Day