MUMBAI: The sensex rallied 747 points (0.9%) on Friday to close at 82,189 points after RBI cut interest rate by 50 basis points (100bps = 1 percentage point), a move that market players feel has the potential to spur economic growth with loans becoming cheaper. Banking and financial stocks led the day’s rally that added about Rs 3.6 lakh crore to investors’ wealth with BSE’s market capitalisation now at slightly over Rs 451 lakh crore.Nifty closed 249 points (1%) higher at 25,003 points. Most market players said that although a cut in interest rate by RBI was almost a given, the quantum of the cut – 50bps against an expected 25bps – surprised most.Domestic funds led the day’s buying with a net inflow of Rs 9,342 crore while foreign funds were net buyers at Rs 1,010 crore, BSE data showed. Dhiraj Relli, MD & CEO, HDFC Securities, said RBI’s decision – ‘a jumbo rate cut’ – would provide significant market relief as this, along with the 100bps reduction in cash reserve ratio, is set to inject approximately Rs 2.5 lakh crore in liquidity by Nov, directly strengthening bank margins in H2 FY26 and fostering private investment growth.