Yes Bank, SBI trades nearly 2%; Axis Bank down post RBI policy

Banking stocks rise as Rajan decides to maintain status quo.

The S&P BSE Bankex rose nearly 1% on Tuesday as Raghuram Rajan, Governor, Reserve Bank of India (RBI), decided to keep repo rate unchanged at 6.5%. 

The governor has unchanged the cash reserve ratio (CRR) of scheduled banks at 4% of net demand and time liablities (NDTL).  

Banking stocks of Yes Bank, State Bank of India (SBI) and ICICI Bank were trading up nearly 2% on the BSE soon after the Reserve Bank of India (RBI) announced its second bi-monthly monetary policy review meet on Tuesday. 

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At 11:21 hours, the shares of Yes Bank were trading up 1.67% or Rs 17.75 at Rs 1,080.40 per scrip on the Bombay Stock Exchange (BSE). 

At 11:24 hours the stock of State Bank of India (SBI) was trading up 1.83% or Rs 3.65 at Rs 202.70 on the stock exchange. 

At 11:24 hours, the stock of ICICI Bank was trading up 1.77% or Rs 4.30 at Rs 247.65 on the exchange. 

Earlier, the shares of Bank of Baroda, Federal Bank, Punjab National Bank, Kotak Mahindra Bank, HDFC Bank and IndusInd Bank were trading almost flat but they regained and started trading in the upward movement.  

At 11:42 hours, the stock of Bank of Baroda was trading up 1.01% or Rs 1.45 at Rs 144.40 on the BSE. 

At 11:42 hours, the shares of Federal Bank were trading up 1.02% or Rs 0.55 at Rs 54.25 per scrip on the exchange. 

At 11:43 hours, the stock of Punjab National Bank was trading up 0.26% or Rs 0.20 at Rs 77.20 on the stock exchange. 

At 11:43 hours, the shares of Kotak Mahindra Bank were trading up 0.76% or Rs 5.80 at Rs 771.00 per scrip on the stock exchange. 

At 11:44 hours, the stock of HDFC Bank was trading up 0.07% or Rs 0.80 at Rs 1,171.80 on the exchange. 

At 11:45 hours, the stock of IndusInd Bank was trading up 0.60% or Rs 6.75 at Rs 1,125.45 on the exchange. 

However, stocks of Axis Bank were trading down post RBI's announcement of bi-monthly monetary policy. 

At 11:53 hours, the stock of Axis Bank was trading down 0.50% or Rs 2.65 at Rs 531.45 on the BSE.