RBI MPC Meeting 2024: Rate-sensitive stocks decline after of RBI policy decision
Rate-sensitive stocks: Rate-sensitive stocks remained in focus as investors eye the first bi-monthly review by the RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) this year.
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RBI MPC Meeting 2024, Rate-sensitive stocks: Rate-sensitive stocks—banking, financial services, realty, auto, and other consumer durable stocks—remained in focus after the first bi-monthly review by the Reserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary Policy Committee (MPC) this year on Thursday. Post February 2024, benchmark indices slipped to the day's low while rate-sensitive sectoral indices traded lower.
At close, Nifty Consumer Durables slipped in red, down 0.61 per cent, Nifty Bank slipped 1.76 per cent, Nifty Financial Services shed 1.85 per cent while Nifty Realty was down 0.69 per cent, Nifty FMCG dropped over two per cent and Nifty Auto traded 1.28 per cent lower.
Rate-sensitive stocks are those stocks that are influenced by changes in interest rates.
After RBI policy announcements during the session, in banking heavyweights, SBI zoomed around six per cent followed by Bank Of Baroda, Punjab National Bank were advancing stocks while nine stocks declined. Among Nifty Financial Services stocks, six advanced and 14 declined; in Nifty Consumer Durables, 5 stocks advanced and 10 declined, Nifty Realty, 5 stocks advanced and 5 declined and in Nifty auto, all 15 stocks slipped in red, down up to 2 per cent.
Here's how interest rate-sensitive stocks fared after RBI policy announcements during the session
Consumer durables
| SYMBOL | CHNG | %CHNG |
| NIFTY CONSUMER DURABLES | -111.45 | -0.36 |
| VOLTAS | 19 | 1.83 |
| BLUESTARCO | 9.2 | 0.79 |
| CROMPTON | 0.8 | 0.28 |
| HAVELLS | -1.35 | -0.1 |
| AMBER | -4.65 | -0.11 |
| VGUARD | -1 | -0.32 |
| BATAINDIA | -9.5 | -0.67 |
| RAJESHEXPO | -2.45 | -0.7 |
| KAJARIACER | -11.1 | -0.85 |
| TITAN | -33.65 | -0.94 |
| DIXON | -72.85 | -1.15 |
| WHIRLPOOL | -17 | -1.24 |
| RELAXO | -12.3 | -1.4 |
| ORIENTELEC | -3.25 | -1.51 |
| TTKPRESTIG | -12.35 | -1.56 |
Nifty Bank
| SYMBOL | CHNG | %CHNG |
| NIFTY BANK | -455.15 | -0.99 |
| SBIN | 26.1 | 3.87 |
| BANKBARODA | 5.4 | 2.21 |
| PNB | 0.45 | 0.36 |
| BANDHANBNK | -0.25 | -0.12 |
| FEDERALBNK | -0.7 | -0.47 |
| IDFCFIRSTB | -0.8 | -0.96 |
| INDUSINDBK | -15.2 | -1 |
| HDFCBANK | -19.05 | -1.33 |
| KOTAKBANK | -32.5 | -1.81 |
| AUBANK | -12.7 | -2.05 |
| ICICIBANK | -24.7 | -2.42 |
| AXISBANK | -27.7 | -2.59 |
Financial services
| SYMBOL | CHNG | %CHNG |
| NIFTY FINANCIAL SERVICES | -242.9 | -1.19 |
| SBIN | 25.65 | 3.8 |
| RECLTD | 1.5 | 0.29 |
| IEX | 0.4 | 0.28 |
| LICHSGFIN | 1.65 | 0.26 |
| ICICIGI | 4 | 0.25 |
| HDFCLIFE | 1.3 | 0.21 |
| SBICARD | -0.5 | -0.07 |
| ICICIPRULI | -0.5 | -0.09 |
| SBILIFE | -2.4 | -0.16 |
| PFC | -1.9 | -0.41 |
| HDFCAMC | -18.45 | -0.51 |
| HDFCBANK | -19.5 | -1.36 |
| BAJAJFINSV | -23.9 | -1.5 |
| BAJFINANCE | -103.3 | -1.54 |
| SHRIRAMFIN | -37.8 | -1.57 |
| KOTAKBANK | -33.9 | -1.89 |
| ICICIBANK | -23.1 | -2.26 |
| CHOLAFIN | -31.35 | -2.7 |
| AXISBANK | -29.35 | -2.75 |
| MUTHOOTFIN | -43.8 | -3.07 |
Auto
| SYMBOL | CHNG | %CHNG |
| NIFTY AUTO | -217.6 | -1.09 |
| BAJAJ-AUTO | -23.8 | -0.31 |
| HEROMOTOCO | -22.55 | -0.47 |
| MRF | -836.4 | -0.58 |
| TATAMOTORS | -6.7 | -0.72 |
| TIINDIA | -28.15 | -0.78 |
| MOTHERSON | -1.05 | -0.86 |
| BALKRISIND | -21.8 | -0.93 |
| BOSCHLTD | -240.1 | -0.95 |
| BHARATFORG | -13.15 | -1.02 |
| M&M | -18.2 | -1.06 |
| TVSMOTOR | -23.95 | -1.16 |
| SONACOMS | -11 | -1.75 |
| MARUTI | -202.75 | -1.85 |
| ASHOKLEY | -3.35 | -1.88 |
| EICHERMOT | -86.65 | -2.21 |
Real estate
| NIFTY REALTY | -4.4 | -0.5 |
| SWANENERGY | 11.05 | 1.67 |
| PHOENIXLTD | 42.6 | 1.54 |
| MAHLIFE | 5.65 | 0.95 |
| OBEROIRLTY | 11.85 | 0.9 |
| DLF | 4 | 0.48 |
| PRESTIGE | -11.5 | -0.94 |
| LODHA | -23.7 | -2.09 |
| GODREJPROP | -52.4 | -2.28 |
| SOBHA | -46.05 | -3.13 |
RBI MPC Outcome | Market wizard Anil Singhvi says no change in rate, stance as expected
Zee Business Managing Editor Anil Singhvi pointed out that the central bank's latest policy has no liquidity-related measures, also along expected lines.
MPC kept the repo rate, or the key interest rate at which it lends short-term funds to commercial banks, unchanged at 6.5 per cent in its February 2024 review, in line with the expectations of most economists.
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