Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Rate-sensitive stocks rise ahead of RBI policy decision

The BSE bank index rose 1.75 per cent to a high of 27417.10 points.

ETMarkets.com|
Apr 05, 2018, 11.40 AM IST
0Comments
ThinkStock Photos
nikkei--rise--thinkstock
The BSE auto index jumped by 1.80 per cent to 25,333.39 points.
NEW DELHI: Shares of interest rate-sensitive stocks like auto, banking and realty rallied in morning trade on the bourses ahead of the Reserve Bank of India's monetary policy decision today.

The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, will announce the resolution of the MPC on its first bi-monthly monetary policy for financial year 2018-19 later in the day.

Among banking stocks, Kotak Mahindra Bank rose as much as 1.91 per cent, while Yes Bank jumped 2.40 per cent, State Bank of India 2.06 per cent, Federal Bank 2.07 per cent, Punjab National Bank 1.85 per cent and Bank of Baroda 2.60 per cent.

The BSE bank index rose 1.75 per cent to a high of 27417.10 points.

The outcome of the MPC meeting is being keenly awaited by stakeholders amidst pressure on RBI to cut interest rates in the wake of declining retail inflation and the need to fuel growth momentum.

In the realty segment, Godrej Properties gained as much as 1.81 per cent, Prestige Estates Projects 3.71 per cent, Oberoi Realty 2.69 per cent.

The BSE realty index jumped to 2.55, up 2281.32 per cent.

In the auto pack, Mahindra & Mahindra advanced by 2.63 per cent, Tata Motors 3.23 per cent and Bajaj Auto 1.88 per cent.

The BSE auto index jumped by 1.80 per cent to 25,333.39 points.

Experts believe the central bank will have to do a tightrope walk as globally interest rates are inching upwards.

Last month, the US Federal Reserve raised interest rates by a quarter of a percentage point and signalled that it is on track to raising rates two more times in 2018.

Also Read

Stock market update: 45 stocks hit 52-week lows on NSE

Stock market update: Cement stocks climb; Barak Valley leaps 5%

Stock market update: Sugar stocks surge; Vishwaraj Sugar zooms 10%

Stock market update: 67 stocks hit 52-week lows on NSE

Stock market update: Cement stocks advance; Orient Cement up 2%

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service