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Share market update: Bank, auto, realty stocks slip after RBI keeps repo rate unchanged

This halt came after five consecutive cuts. The shortterm lending rate, or repo rate, was unchanged at 5.15 per cent.

ETMarkets.com|
Dec 05, 2019, 12.00 PM IST
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Among the 50 stocks in the Nifty index, 11 were trading in the green, while 38 were in the red.
NEW DELHI: Rate sensitive auto, realty and bank stocks slipped in Thursday's session after the RBI Governor Shaktikanta Dasheaded monetary policy committee (MPC) maintained status quo on policy rates in its fifth bimonthly monetary policy review of the financial year.

This halt came after five consecutive cuts. The shortterm lending rate, or repo rate, was unchanged at 5.15 per cent.

The decision was made even as GDP fell to a 6year low of 4.5 per cent in the September quarter. A few economists said that an aggressive rate cut was unlikely as the headline inflation now stands at around 4.6 per cent, above the RBI’s target, mainly on account of higher food inflation.

The Nifty Auto index was trading 0.49 per cent down at 7957.25 while the Nifty Bank index was trading 0.53 per cent down at 31,808.95 around 11:51 am. Also, the Nifty Realty index fell 0.16 per cent to 284.90.

Shares of Motherson Sumi Systems (down 1.96 per cent) , Tata Motors (down 1.42 per cent), Bharat Forge (down 1.27 per cent) , Ashok Leyland (down 0.97 per cent) , Amara Raja Batteries (down 0.97 per cent) , Bosch (down 0.81 per cent) , MRF (down 0.51 per cent) , Exide Industries (down 0.45 per cent) , Maruti Suzuki (down 0.38 per cent) , Mahindra & Mahindra (down 0.35 per cent) , Hero MotoCorp (down 0.32 per cent) , Eicher Motors (down 0.18 per cent) and Bajaj Auto (down 0.04 per cent) were the top losers in the auto index.

While, IDFC Bank (down 2.07 per cent), Yes Bank (down 1.9 per cent) , Federal Bank (down 1.59 per cent) , State Bank of India (down 1.37 per cent) , RBLBANK (down 1.27 per cent) , IndusInd Bank (down 1.04 per cent) , Punjab National Bank (down 0.86 per cent) , HDFC Bank (down 0.78 per cent) , Bank of Baroda (down 0.67 per cent) , Axis Bank (down 0.5 per cent) and Kotak Mahindra Bank (down 0.18 per cent) were trading lower in the banking pack.


Also, Phoenix Mills (down 1.82 per cent) , Mahindra Lifespace Developers (down 1.69 per cent) , Brigade Enterprises (down 1.28 per cent) , Sunteck Realty (down 0.84 per cent) , DLF (down 0.59 per cent) , Godrej Properties (down 0.1 per cent) and Prestige Estates Projects (down 0.02 per cent) were the worst performers in the realty index.

Benchmark NSE Nifty50 index was down 28.30 points at 12,014.90, while the BSE Sensex was down 81.56 points at 40,768.73.

Among the 50 stocks in the Nifty index, 11 were trading in the green, while 38 were in the red.

Shares of Vodafone Idea, YES Bank, ZEEL, Tata Motors, SAIL, ICICI Bank, Bank of Baroda, SBI and Bharti Airtel were among the most traded shares on the NSE.


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