Rate sensitive stocks end with up to 4% gains post RBI policy
Interest rate sensitive stocks of
banking, realty and auto sectors gained up to 4.2 per cent
today after the Reserve Bank decided to hold rates as the move
was in line with market expectations.
RBI reduced the Statutory Liquidity Ratio (SLR), the
portion of deposits held by banks in government securities, by
0.5 per cent to 19.5 per cent, freeing over Rs 57,000 crore to
bank funds for lending.
As a result, shares of Kotak Mahindra Bank rose by 2.16
per cent, Yes Bank - 1.55 pc, SBI - 0.82 pc, Federal Bank -
0.80 pc, PNB - 0.39 pc and Bank of Baroda - 0.22 pc.
The BSE bank index settled at 27,126.98, up 0.17 per
In its fourth bi-monthly monetary policy review, the
Reserve Bank kept interest rate unchanged as was widely
expected in view of upward trend in inflation.
Among realty stocks, Godrej Properties rose by 4.22 per
cent, Phoenix Mills - 1.95 pc, Prestige Estates Projects -
1.61 pc and Oberoi Realty 0.96 pc on BSE.
The BSE realty index rose by 0.56 per cent to end at
"Domestic indices edged higher buoyed by PSUs after RBI
decided to maintain status quo on repo despite a cut in the
growth forecast," said Anand James, Chief Market Strategist,
Geojit Financial Services Ltd.
From the auto pack, M&M jumped 1.89 per cent, Tata Motors
(1.68 pc), Bajaj Auto (0.48 pc) and Ashok Leyland (0.25 pc).
The BSE auto index went up by 0.30 per cent to close at
The 30-share index surged 174.33 points to end at
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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