The markets jumped in the opening trade on account of strong cues from the global markets.
RBI's move was part of steps being taken to tame inflation, which stood at 6.05 pc for the week ended February 17.
The Union Budget has allocated an allocation of Rs 50 crore for India's ambitious manned spaceflight.
The market had a fairly volatile session, after opening strong it slipped on account of some profit booking at the higher levels.
Decks have been cleared for Reliance-ADA Group headed by Anil Ambani to enter the direct- to-home (DTH) service.
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