
Auto, realty stocks see mixed trading after RBI repo rate hike
In realty and auto counters, Indiabulls Real Estate, DLF, Sobha, TVS Motor, Tata Motors, and Escort were top performers post RBI policy announcement
In realty and auto counters, Indiabulls Real Estate, DLF, Sobha, TVS Motor, Tata Motors, and Escort were top performers post RBI policy announcement
In the BSE Bankex space, ICICI Bank and SBI were top gainers, followed by Axis Bank, Federal Bank, Kotak Mahindra Bank, Bank of Baroda, and HDFC Bank among others.
The Sensex and Nifty are poised to edge higher in the opening trade, following firm cues from Asian peers, with the Reserve Bank’s latest monetary policy statement in focus.
Indian economy, compared to the peer groups and developed economies, is much better, says finance minister Nirmala Sitharaman in the Rajya Sabha
Shares of real estate companies DLF, Sobha, Oberoi Realty, Godrej Properties, and Brigade Enterprises rose up to 3% post RBI policy announcements.
Post RBI policy announcements, Bank of Baroda rose 2.85%, followed by SBI, IndusInd Bank, HDFC Bank, and Federal Bank, which gained up to 2%.
The Sensex and Nifty are poised to start the day on a positive note, tracking strong cues from global peers and a similar trend on the SGX Nifty futures.
Analysts think governor Shaktikanta Das-led RBI MPC will hike the repo rate by up to 50 bps to 4.9% to curb rising inflation; expect to move away from ‘ultra-accommodative’ stance.
The BSE Sensex ended 460 points higher as a dovish policy stance by the RBI triggered buying momentum in the stock market.
The BSE bankex, realty, and auto index gained up to 1.2% after the RBI kept the policy repo rate unchanged and retained an accommodative stance.