Interest rate sensitive stocks of
banking, realty and auto sectors gained up to 4.2 per cent
today after the Reserve Bank decided to hold rates as the move
was in line with market expectations.
RBI reduced the Statutory Liquidity Ratio (SLR), the
portion of deposits held by banks in government securities, by
0.5 per cent to 19.5 per cent, freeing over Rs 57,000 crore to
bank funds for lending.
As a result, shares of Kotak Mahindra Bank rose by 2.16
per cent, Yes Bank - 1.55 pc, SBI - 0.82 pc, Federal Bank -
0.80 pc, PNB - 0.39 pc and Bank of Baroda - 0.22 pc.
The BSE bank index settled at 27,126.98, up 0.17 per
cent.
In its fourth bi-monthly monetary policy review, the
Reserve Bank kept interest rate unchanged as was widely
expected in view of upward trend in inflation.
Among realty stocks, Godrej Properties rose by 4.22 per
cent, Phoenix Mills - 1.95 pc, Prestige Estates Projects -
1.61 pc and Oberoi Realty 0.96 pc on BSE.
The BSE realty index rose by 0.56 per cent to end at
2,085.65.
"Domestic indices edged higher buoyed by PSUs after RBI
decided to maintain status quo on repo despite a cut in the
growth forecast," said Anand James, Chief Market Strategist,
Geojit Financial Services Ltd.
From the auto pack, M&M jumped 1.89 per cent, Tata Motors
(1.68 pc), Bajaj Auto (0.48 pc) and Ashok Leyland (0.25 pc).
The BSE auto index went up by 0.30 per cent to close at
24,451.68.
The 30-share index surged 174.33 points to end at
31,671.71.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
Highest FD rates: Here's what SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are giving to senior citizens on fixed deposits
Top 7 SBI Mutual Funds With Highest SIP Returns in 5 Years: Rs 15,000 monthly SIP investment in No. 1 scheme has grown to Rs 21,88,409; what about others?
06:59 PM IST