Rate-Sensitive Banking, Auto And Realty Shares Witness Buying Post RBI Policy

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The rate-sensitive banking, auto and realty stocks are trading firm after the Reserve Bank of India left key lending rates unchanged as expected and raised its GDP forecast. The Nifty Bank index – which gauges stocks of 12 major lenders in the country, including SBI and HDFC Bank – jumped as much as 1.81 per cent in the aftermath of RBI policy announcements. At 11:30 am, the Nifty banking index had strengthened by 0.8 per cent at 29,703.65, the Nifty auto index had gained 0.58 per cent to 9,299.20 and Nifty Realty index had added 0.03 per cent to 283.10.

The Reserve Bank of India’s Monetary Policy Committee maintained the key lending rate unchanged at 4 per cent today and revised its projection for real GDP growth at -7.5 per cent for financial year 2020-21.

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