RBI hikes repo rate by 25 bps; here’s how rate sensitive stocks reacted
Rate-sensitive stocks slipped in red as the central bank raised the repo rate for the sixth time in a row, which is likely to impact consumption and demand for loans.
Rate-sensitive stocks slipped in red as the central bank raised the repo rate for the sixth time in a row, which is likely to impact consumption and demand for loans.
The stock markets slipped in red after the RBI announced rate hike, led by interest rate sensitive realty stocks.
The BSE bankex index was the top performer with a 2% gain, led by Bank of Baroda, Federal Bank, Kotak Mahindra Bank, HDFC Bank, and SBI.
The RBI governor Shaktikanta Das-led MPC keeps inflation forecast unchanged at 6.7% for the financial year 2022-23 amid upside risks to food prices.
The RBI Governor Shaktikanta Das-led MPC is expected to raise the policy rate by another 50 bps to 5.9% as retail inflation remained elevated above the RBI’s threshold of 6%.
Do not go for duration funds at this point at all
The Sensex and Nifty are poised to open lower on Wednesday, in line with global equities as investors remain concerned about a potential global recession.
The BSE Sensex has fallen 2,575 points, or 4.3%, in the last four trading days, while the Nifty50 has lost 800 points, or 4.5%, during the same period.
The Sensex and Nifty are poised to open lower on Monday, in line with Asian peers as interest rate hikes by the global central banks have strengthened fears of recession.
In realty and auto counters, Indiabulls Real Estate, DLF, Sobha, TVS Motor, Tata Motors, and Escort were top performers post RBI policy announcement